Canada's inflation rate rose at its fastest pace in almost 40 years in the year up to May, as the price of just about everything continues to go up fast. Statistics Canada reported Wednesday that an uptick in the price of gasoline was a major factor causing the overall inflation rate to hit 7.7 per cent. has the highest inflation rate in Canada so CBC News hit the streets to ask people how they are coping. Seasonally adjusted, that makes May 2022 the biggest one-month jump in the inflation rate in 30 years. The inflation rate rose in every province, from a low of seven per cent in Saskatchewan, to an eye-watering 11.1 per cent in Prince Edward Island.

Source: CBC News June 23, 2022 01:12 UTC