November 05, 2024 17:12 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Canada's inflation rate rises to 3.6 per cent, highest level in decade: Statistics Canada
Canada inflation
Image Credit: Statistics Canada Twitter handle

Canada's inflation rate rises to 3.6 per cent, highest level in decade: Statistics Canada

| @indiablooms | 16 Jun 2021, 11:59 pm

Ottawa/IBNS:  Canada's inflation rate rose to 3.6 percent in May, the fastest pace in a decade, Statistics Canada said.

Economists say that the current rise in the inflation rate of 3.6 is higher than their expected rate of 3.5 per cent.

In a news release on Wednesday, Statistics Canada said that the cost of just about everything is rising at a much faster pace than usual, from shelter and vehicles to food, energy, and consumer goods.

The Bank of Canada is already making ongoing adjustments to its asset purchase program and expects the inflation rate to be around three per cent over the summer, but it would ease later this year, then returning toward the bank’s two-per-cent target.

The increase in year-over-year price growth in May said Statistics Canada was caused by rising prices for housing and passenger vehicles. 

(Reporting by Asha Bajaj)

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos