Canada’s consumer price index touched its highest level in almost two decades last month, as the price of just about everything is up sharply compared to the transitory lows of a year ago.

Statistics Canada reported Wednesday that the inflation rate hit 4.1 per cent during the month. That’s up from 3.7 per cent in July, which was already the highest rate in a decade.

Just about every type of good or service was a lot more expensive in August than it was a year earlier, including shelter (up 4.8 per cent), transportation (8.7 per cent) and food (2.7 per cent).

The homeowner replacement cost index — a number the data agency tabulates that factors in all the costs associated with owning a home, including property taxes, maintenance, insurance and mortgage interest costs — rose by 14 per cent in the year up to August. That’s the sharpest jump in that metric since 1987.

More to come.

Source From CBC News

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the fresh news from

You May Also Like

Leylah Fernandez eliminates another top 5 seed in march to U.S. Open semifinals

Comments To encourage thoughtful and respectful conversations, first and last names will…

Coronavirus: What’s happening in Canada and around the world on Friday

The latest: Denmark’s high vaccination rate has enabled the Scandinavian country to…

Vikings Were in the Americas Exactly 1,000 Years Ago

Six decades ago, a husband-and-wife team of archaeologists discovered the remains of…

Canadian Forces to be deployed to help tackle Iqaluit’s water crisis

The Canadian Armed Forces will be stepping in to help with the…