Canadian inflation breaks 39-year record

According to the report of the International Economic Group of Fars News Agency, quoted by Russia EliumStatistics Canada reported on Wednesday that consumer prices in Canada rose by 8.1 percent annually in June 2022, the highest level since 1983.

For comparison, Canada’s annual inflation rate in May 2022 was 7.7%. This growth is mainly due to the increase in the price of gasoline and due to the increase in the price of oil in the world markets.

Statistics Canada said: On an annual basis, consumers paid 54.6% more for fuel in June 2022 after a 48% increase in fuel prices in May 2022, and this occurred due to higher crude oil prices.

This result was against the expectations of analysts who expected the annual inflation rate to increase to 8.4% in June 2022.

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