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    Home » Canada’s Inflation Rises to Highest Level, 3.6% in a Decade
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    Canada’s Inflation Rises to Highest Level, 3.6% in a Decade

    June 16, 20211 Min Read
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    Canada’s economy as piggy bank
    Canada’s economy as piggy bank
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    Policymakers view the inflation rate increases in Canada as a short-term increase in consumer prices.

    •  The inflation rate forecasts of economists was 3.5%, but consumer prices rose by 3.6% in May higher than 3.4% in April.  
    • The core inflation rate also increased to 2.3%, the highest rate since 2009. The core inflation is a good measure of the pressures on consumer prices.
    • The Bank of Canada is not concerned with the sudden increase in inflation rates, stating it is driven by one-off market factors.

    The short-term pressures on prices are growing as businesses struggle to balance increased demand against shortage of supplies.

    TSX gains +0.11%

    Source: StatCan.

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    Canada’s economy inflation The Bank of Canada
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