Inflation rises to 7.7% in May driven by gas, food prices: StatCan

Описание: Inflation rose to its highest level in nearly 40 years in May, according to Statistics Canada.

The agency said its consumer price index last month rose to 7.7 per cent compared with a year ago, which is the biggest spike since January 1983.

This is an increase from 6.8 per cent in April.

Statistics Canada reports the biggest driving factor is gas prices.

Grocery prices rose 9.7 per cent on a year-over-year basis, with prices for nearly everything you put in your grocery cart increasing.