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By CKOM News

INFLATION

Statistics Canada: Inflation rate rises to 8.1 per cent in June

Jul 20, 2022 | 9:08 AM

Statistics Canada says its consumer price index was up 8.1 per cent compared to a year ago.

This is the largest yearly change since Jan. 1983.

According to the latest report, the acceleration in June was mainly due to higher prices for gasoline.

The increase is compared to a 7.7 per cent rate in May.

On a year-over-year basis, prices rose more in June than in May in eight provinces. Price growth was also deemed fastest in the prairie provinces.

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The Saskatchewan rate was 8.1 per cent in June, compared to 7.0 in May.

Prince Edward Island had the highest rate in Canada at 10.9 per cent in June, but down slightly from 11.1 per cent in May.

More to come.

-With files from the Canadian Press