Galloping inflation still a concern

The consumer price index for June could reach a new high, as inflation jumped 7.

Galloping inflation still a concern

The consumer price index for June could reach a new high, as inflation jumped 7.7% in May in Canada, a record since 1983.

Statistics Canada will take stock on Wednesday morning of the consumer price index in a context of high inflation which risks leaving many households on the floor.

At the same time, the federal agency will unveil the price index for industrial products and raw materials and the monthly credit aggregates as well as the surveys on energy transportation and storage and mineral production.

“It's really an economic period that clashes with the past. There is nothing that demonstrates a balance and the figures are not likely to go down anytime soon,” Éric Pronovost, director of the accounting firm Mallette, told TVA Nouvelles.

In its last monthly note, the federal agency observed a 12% increase in gasoline prices between April and May, thus exceeding the psychological threshold of $2.

Fuel prices, on the other hand, have seen some lull in recent days, despite runaway inflation, say experts who are urging vigilance, as no one can predict when the price increase will level off.

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS