Finance

Canada’s inflation rate hits highest level since 2011

Canada's inflation rate has, well, inflated. The country's annual rate hit 3 percent in July, up half a percentage point from July and the highest such level since 2011, according to CBC News. Every province saw an increase, with inflation climbing 3.3 percent in B.C. Newfoundland...

By The Editors /

Canada‘s inflation rate has, well, inflated. The country‘s annual rate hit 3 percent in July, up half a percentage point from June and the highest such level since 2011, according to CBC News.

Every province saw an increase, with inflation climbing 3.3 percent in B.C. The results from coast to coast:

  • Newfoundland and Labrador: 2.7%
  • Prince Edward Island: 3.4%
  • Nova Scotia: 2.7%
  • New Brunswick: 2.7%
  • Quebec: 2.4%
  • Ontario: 3.1%
  • Manitoba: 3.3%
  • Saskatchewan: 3.1%
  • Alberta: 3.5%
  • British Columbia: 3.3%

The main causes of the bump? Air transportation and gasoline prices, which surged 28.2 percent and 25.4 percent, respectively, in the past year.