Maritimes Experiencing Highest Inflation In Canada
The cost of living in Nova Scotia, New Brunswick, and PEI rose at rate well above the national average last month, driven in large part by more expensive rent and home heating costs.
The cost of living in Nova Scotia, New Brunswick, and PEI rose at rate well above the national average last month, driven in large part by more expensive rent and home heating costs.
Faster price growth for gas and mortgage interest put upward pressure on CPI
Canada’s inflation rate skyrocketed to a nearly 40-year high of 7.7 percent during the month of May but basic costs rose even higher in the Maritimes.
Canada’s inflation rate reached a new, 31-year high of 6.7 percent in March. That is a full percentage point higher than the 5.7 percent gain we saw in February.
Statistics Canada says February’s increase was the largest in more than 30 years.
At the root of the increases are ongoing supply chain issues and elevated consumer energy prices.