Canadian CPI Inflation Rises to 5.7%

Author: Boychuk Mortgage Group | | Categories: Home Purchase Mortgage , Mortgage Broker , Mortgage Rates , Mortgage Refinance

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StatsCanada today reported that consumer prices rose 5.7% year-over-year in February, up again from the prior month’s 5.1% rise. This was the largest gain since August 1991 (+6.0%).

This was no surprise, as the Ukraine War has stepped up inflation pressure worldwide. The US CPI rose a whopping 7.9% last month (see chart below).Price increases were broad-based in February, pinching the pocketbooks of Canadians. Consumers paid higher prices for gasoline and groceries in February 2022 compared with the same month a year earlier. Shelter costs continued to trend higher, rising at the fastest year-over-year pace since August 1983.

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Original Article Source Credits: Dominion Lending Centres,

Article Written By: Sherry Cooper

Original Article Posted on: March 16, 2022

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