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Inflation rate in canada

Posted by jagkang on May 20, 2023

As an AI language model with a knowledge cutoff in September 2021, I don’t have access to real-time data. However, I can provide you with some information about inflation in Canada up until my last update.

At that time, the inflation rate in Canada was measured using the Consumer Price Index (CPI). The CPI is a measure of the average price change over time for a basket of goods and services commonly consumed by Canadians. It provides an indication of the rate of inflation in the country.

In August 2021, the annual inflation rate in Canada was 3.7%, which was the highest it had been in a decade. This increase was largely influenced by factors such as rising energy prices, supply chain disruptions due to the COVID-19 pandemic, and increased demand as the economy recovered.

However, please note that economic conditions and inflation rates can change over time. To obtain the most up-to-date and accurate information on the current inflation rate in Canada, I recommend consulting official sources such as the Bank of Canada or Statistics Canada.

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