The latest figures from Statistics Canada indicate that the national inflation rate has reached a decade-high of 3.6% in May, owing to the accelerated growth of costs in shelter, energy, passenger vehicles, and consumer goods.
The reading slightly exceeded analysts’ expectations of an increase to 3.5%, and came amid the gradual reopening of most regions in Canada after several quarters of muted economic activity.
Shelter costs accounted for a significant chunk of the acceleration, posting a 4.2% increase. StatsCan said that this was the fastest pace since the height of the Great Financial Crisis in 2008.#SANDI HALPERN # LEASED # SOLD # INFLATION RATE
