Inflation Hits 5.7% in February
CBJ — Canada’s inflation rate rose to a near 31-year-high in February to a staggering 5.7%. The Bank of Canada says the ideal inflation rate hovers in and around 2%.
Everything is more expensive, from gasoline to groceries to housing prices.
Statistics Canada says the ballooning inflation rate was the highest it’s been since August of 1991. January was nothing to brag about either.
“If it feels like everything is getting more expensive, it’s because it is,” according to one economist.
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