No relief in sight from climbing prices in Canada as inflation rate hits 30 year high

There's no relief in sight from climbing prices across the country as Statistics Canada says the annual inflation rate hit 5.7 per cent last month, the highest in more than 30 years, and the second straight month above five per cent.

Economists say gas prices, grocery costs and housing expenses all contributed to the leap from January's setting of 5.1 per cent.

In BC, inflation jumped four-tenths of a point to 4.7 per cent, tying this province and Saskatchewan for the lowest cost of living increase in Canada, but rates are still up sharply in most areas.

Victoria saw its rate soar seven basis points to an even five per cent in February, while Vancouver was up half a per cent to 4.7 per cent.