Inflation has risen 6.7% in the last year, rising a full percent higher than in February, according to Statistics Canada..The last time Canadians saw such a jump was when GST was introduced in January of 1991.. Screen-Shot-2022-04-20-at-9.48.57-AMCPI 12-month change, courtesy of Statscan .The consumer price index has been sharply increasing since 2021, March 2022 marks a rise of 5.5% excluding gasoline and 6.7% including.. Screen-Shot-2022-04-20-at-8.54.34-AMOne year price changes, courtesy of Statscan .The biggest price jumps compared to last year are gasoline, rising 39.8%, and owned accommodation expenses, up 16.9%..From February to March 2022, gasoline prices increased 11.8%, recreational vehicles increased 5.6% and furniture increased 8.2% in one month..“The spike in prices over the month of March is the largest monthly increase since January 1991, when the goods and services tax was introduced,” said economist Royce Mendes of Desjardins Group to the CBC.. Screen-Shot-2022-04-20-at-9.25.27-AMMajor components price changes, courtesy of Statscan .February already saw major increases in all major goods and services, but the March data shows prices continue to rise rapidly..Goods related to transportation, household operations, recreation and education saw the steepest increases in one month..In March, prices for services went up 4.3% on a 12-month basis, higher than the 3.8% increase in February..In mid-April, Bank of Canada Governor Tiff Macklem said inflation is expected to average almost 6% in the first half of 2022, but it has already surpassed that target..The largest decrease for Canadians was passenger vehicle registration services, which lowered by 28.2% because the Ontario government scrapped the vehicle registration tax..Ewa Sudyk is a reporter with the Western Standard.,esudyk@westernstandard.news,.https://twitter.com/EwasWorkin
Inflation has risen 6.7% in the last year, rising a full percent higher than in February, according to Statistics Canada..The last time Canadians saw such a jump was when GST was introduced in January of 1991.. Screen-Shot-2022-04-20-at-9.48.57-AMCPI 12-month change, courtesy of Statscan .The consumer price index has been sharply increasing since 2021, March 2022 marks a rise of 5.5% excluding gasoline and 6.7% including.. Screen-Shot-2022-04-20-at-8.54.34-AMOne year price changes, courtesy of Statscan .The biggest price jumps compared to last year are gasoline, rising 39.8%, and owned accommodation expenses, up 16.9%..From February to March 2022, gasoline prices increased 11.8%, recreational vehicles increased 5.6% and furniture increased 8.2% in one month..“The spike in prices over the month of March is the largest monthly increase since January 1991, when the goods and services tax was introduced,” said economist Royce Mendes of Desjardins Group to the CBC.. Screen-Shot-2022-04-20-at-9.25.27-AMMajor components price changes, courtesy of Statscan .February already saw major increases in all major goods and services, but the March data shows prices continue to rise rapidly..Goods related to transportation, household operations, recreation and education saw the steepest increases in one month..In March, prices for services went up 4.3% on a 12-month basis, higher than the 3.8% increase in February..In mid-April, Bank of Canada Governor Tiff Macklem said inflation is expected to average almost 6% in the first half of 2022, but it has already surpassed that target..The largest decrease for Canadians was passenger vehicle registration services, which lowered by 28.2% because the Ontario government scrapped the vehicle registration tax..Ewa Sudyk is a reporter with the Western Standard.,esudyk@westernstandard.news,.https://twitter.com/EwasWorkin
