TD Bank managing director Leslie Preston said a generation of Canadians is experiencing high inflation for the first time. The May reading came as energy prices rose 34.8 per cent compared with a year ago with gasoline prices up 48.0 per cent compared with a year ago. Excluding gasoline, the annual inflation rate in May rose to 6.3 per cent compared with 5.8 per cent in April. Fresh vegetable prices rose 10.3 per cent. Prices for traveller accommodation gained 40.2 per cent compared with a year ago, while the price of food purchased from restaurants gained 6.8 per cent.

Source: CBC News June 22, 2022 10:39 UTC