Canada’s inflation rate rose to a new 18-year high of 4.4 per cent in September, with higher prices for transportation, shelter and food contributing the most to the jump in the cost of living.
Statistics Canada said Wednesday that the transportation index, which includes gasoline, rose by more than nine per cent. Shelter costs have gone up by 4.8 per cent in the past year, while food prices are up by 3.9 per cent.
Gasoline prices have risen by almost 33 per cent in the past year, the data agency said.
Prices for just about every type of food went up sharply, especially meat, which rose at an annual pace of 9.5 per cent. That’s the fastest pace of increase in meat prices since 2015.