Inflation Rate Hits 4.7 Percent in Canada

Wednesday, 17 November 2021 09:05

Statistics Canada is reporting the largest year-over-year gain in the consumer price index since February 2003.

CANADA - It's Canada's largest inflation rate in 18-years.

Statistics Canada says the rate jumped to 4.7 percent in October. It's the largest year-over-year gain in the consumer price index since February 2003. The inflation rate was sitting at 4.4 percent in September.

If you don't include energy prices, Stats Can says the consumer price index would have been up 3.3 percent last month compared to October 2020.

Officials say gas prices rose to 41.7 percent. It's the fastest increase since May when you compare that price last October.

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Inflation Rate Hits 4.7 Percent in Canada

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