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Annual inflation rate slowed to 6.3% in December

eAwaz Local News

Ottawa – The Consumer Price Index (CPI) rose 6.3% year over year in December, following a 6.8% increase in November. Excluding food and energy, prices rose 5.3% on a yearly basis in December, following a gain of 5.4% in November. The headline CPI grew at a slower pace largely due to slower growth in prices for gasoline. Additional deceleration came from homeowners’ replacement cost, fuel oil …

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Inflation down to 7.6% on year-over-year basis in July

eAwaz Local News

Ottawa – The Consumer Price Index (CPI) rose 7.6% on a year-over-year basis in July, down from an 8.1% gain in June. The deceleration was a result of slower year-over-year growth in gasoline prices. Excluding gasoline, prices rose 6.6% year over year in July, following a 6.5% increase in June, as upward pressure on prices remained broad-based. On a monthly basis, the CPI rose 0.1% in July, …

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Stats Canada: Annual inflation surpasses 5% for 1st time in over 30 years

eAwaz Local News

Ottawa – In January 2022, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021. In comparison, the headline Consumer Price Index (CPI) increased 1.0% on a year-over-year basis in January 2021. Excluding gasoline, the CPI rose 4.3% year over year in January 2022—the fastest pace since the introduction of the index in 1999. COVID-19 pandemic-related challenges continue …