Canada’s year-over-year inflation rate rose by 4 percent last month, following a 3.3 percent jump from July.
Statistics Canada says the spike is mostly due to the first year-over-year rise in gasoline prices since the beginning of the year.
Prices at the pump rose by 0.8 percent on an annual basis in August, contrasting with a 12.9 percent drop from the month before.
While grocery costs slowed down from the 8.5 percent increase from July, they still rose by nearly 7 percent in August.
For BC specifically, the overall consumer price index rose by 3.8 percent last month, owing largely to the same factors.
Rental costs also rose by 5.8 percent last month, a jump from July’s 5.4 percent, but still the fourth lowest increase among the provinces.
You can find all the information from StatsCan’s most recent report at this link.
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