Gasoline Spike Pushes Canada Inflation to Highest Since 2023 (opens original article in a new tab)

Spiking gasoline prices pushed Canadian inflation to 3.2% in May, the highest level since December 2023, while core inflation measures remained stable.

• Canadian inflation rose to 3.2% in May, the highest since December 2023.
• Gasoline prices increased 33% year-over-year, contributing to the inflation spike.
• Core inflation measures remained stable, with underlying price pressures subdued.