Canada inflation jumps to 29-month high as oil prices rise
Canada's annual inflation rate rose to 3.2% in May, reaching a 29-month high and moving outside the Bank of Canada's 1% to 3% target range for the first time in nearly two and a half years. The increase was driven in large part by petrol prices, which climbed 33.2% year on year, according to Statistics Canada. The data were released on Monday and point to a sharp rise in living costs at a time when energy markets have been unsettled by tensions involving Iran.The monthly inflation rate also increased by 1% in May, the strongest monthly gain in 15 months.... [Continue Reading]
360LiveNews | 22 Jun 2026 18:00 LONDON
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