Canada's inflation in May exceeded expectations across the board
2024-06-25 12:34:59
On June 25th, Statistics Canada said Tuesday that the consumer price index (CPI) rose by 2.9% year-on-year in May, up from 2.7% in April. The acceleration in the overall CPI was largely due to higher prices in the service sector, which rose by 4.6% in May, following a 4.2% increase in April. Mobile phone services, tourism, leasing and air transportation mainly influenced the rapid growth in service prices. Commodity prices (+ 1.0%) rose at the same rate as in April. On a month-on-month basis, the CPI rose by 0.6% in May, mainly due to an increase in travel spending.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
