Consumer prices continued to rise in Canada in June 2022, where inflation hit 8.1% year over year. This is the strongest annual increase observed since January 1983, according to the latest Statistics Canada data released on Wednesday.
Excluding gasoline, the Consumer Price Index (CPI) rose 6.5% year over year in June, surpassing the 6.3% increase recorded a month earlier. Between May and June, the CPI rose 0.7%, following rising 1.4% in May.
According to Statistics Canada, price increases remained widespread, although the acceleration in growth in June was mainly due to higher gasoline prices.
Gasoline prices ever higher
Year over year, Canadians paid 54.6% more for gasoline in June, following paying 48% more in May.
According to data from Statistics Canada, the price index for the purchase of motor vehicles also rose (+8.2%) year over year in June. “Demand for motor vehicles continues to outstrip supply due to continued shortages of semiconductor chips, putting upward pressure on prices,” it said.
In Quebec, the CPI rose 8% year over year in June. On a monthly basis, it increased by 0.7% between May and June.
It is the residents of Prince Edward Island who have to deal with the worst inflation rate in the country, which reached 10.9% over one year, followed by Manitoba (9.4%), Nova Scotia (9.3%) and New Brunswick (9.1%).
