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Leap in gas prices being blamed for the steepest climb in the cost of living in nearly 40 years
BY The Canadian Press, Jun 22, 2022 9:34 PM - REPORT AN ERROR
A leap in gas prices is blamed for the steepest climb in the cost of living in nearly 40 years. (Photo - Statistics Canada/Twitter)
A leap in gas prices is blamed for the steepest climb in the cost of living in nearly 40 years.
Statistics Canada says the national inflation rate in May rose to 7.7 per cent when compared with May of last year, and has jumped nearly one per cent since April.
BC also saw a sharp hike last month as inflation in this province was set at 8.1 per cent, a 1.4 per cent vault over April's 6.7 per cent setting.
Vancouver and Victoria posted identical rates of 8.2 per cent in May, well over a percentage point higher than the month earlier, with Stats-Can saying a nearly 10 per cent spike in food costs also contributed to the increase.
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