Canada's inflation fee jumps to new 18-year excessive of 4.4%

Canada’s inflation fee rose to a brand new 18-year excessive of 4.4 per cent in September, with increased costs for transportation, shelter and meals contributing probably the most to the bounce in the price of dwelling.

Statistics Canada mentioned Wednesday that the transportation index, which incorporates gasoline, rose by greater than 9 per cent. Shelter prices have gone up by 4.8 per cent prior to now yr, whereas meals costs are up by 3.9 per cent.

Gasoline costs have risen by nearly 33 per cent prior to now yr, the information company mentioned.

Costs for almost each sort of meals went up sharply, particularly meat, which rose at an annual tempo of 9.5 per cent. That is the quickest tempo of improve in meat costs since 2015.