Statistics Canada shared an updated Consumer Price Index on Wednesday, May 19. This data shows how much consumers are paying for things like food, shelter, gas, and more.
As it turns out, Canada's inflation rate between April 2021 and 2020 was 3.4%, the highest increase that we've seen in the past decade. Some things that have gotten significantly more expensive over the past year include gasoline, shelter, clothing, and footwear.
Gas prices spiked by 62.5%, shelter costs went up by 3.2%, and clothing and footwear got 1.8% more expensive. Meanwhile, things like food and phone plans rose at a slower rate.
Electricity prices also rose, seeing the biggest jumps in Ontario and Alberta, where customers' bills increased by 18.3% and 16.9% respectively.
The Canadian province that saw the highest rate of inflation over the last year was P.E.I. The smallest shift was recorded in B.C.
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