Canada's inflation rate jumped to 3.7 per cent in July, as the cost of shelter and durable goods went up at a fast enough pace to push the cost of living up to its highest level since 2011. The rising price of cars was also a major contributor to the upside, with passenger vehicle prices rising 5.5 per cent. The inflation rate went up in every province in Canada, but there were wide regional differences. The 3.7 per cent inflation rate is higher than the 3.1 per cent clocked in June, and also more than the 3.4 per cent that economists were expecting. WATCH | Trudeau responds to inflation rate spike: Justin Trudeau is asked about the spike in inflation 2:51 The Liberal leader spoke to reporters in Vancouver on Wednesday.

Source: CBC News August 18, 2021 13:37 UTC