Statistics Canada Reporting Spike in Annual Pace of Inflation

Tuesday, 16 May 2023 11:45

By Linda Morgan

Statistics Canada says in April, inflation rose for the first time since June

Statistics Canada is reporting a jump in the annual pace of inflation.

The agency says the consumer price index was up 4.4 percent compared with a year ago.

This is the first increase since inflation peaked last June.

The increase is due in large part to mortgage interest costs, which were 28.5 percent higher than last April.

Grocery prices were 9.1 percent higher than a year ago, while gas prices were down by 7.7 percent.

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