Canada's inflation rate rose to 8.1 per cent last month, Statistics Canada says, the fastest annual increase in the cost of living in decades. If gasoline is stripped out, the inflation rate would be 6.5 per cent. Another major source of inflation this year has been food prices, which rose by 8.8 per cent in the past year. "It's really saying something when an 8.1 per cent inflation rate is greeted with a modicum of relief in financial markets because it wasn't quite as awful as expected." WATCH | Canada's inflation rate is at a 39-year high:"It's like a slow climb on a roller-coaster ride," she said in an interview.

Source: CBC News July 20, 2022 18:44 UTC