Canada: Inflation increases in May
Consumer prices rose a seasonally-adjusted 0.36% in May over the previous month, moderating from the 0.58% increase logged in April. Looking at the details of the release, prices for transportation rose at a softer pace, while food and housing prices rose at a faster rate.
Inflation came in at 3.6% in May, up from April’s 3.4%. May’s figure was the highest inflation rate since May 2011. Annual average inflation rose to 1.3% in May (April: 0.9%). Core inflation rose to 2.8% in May, from the previous month’s 2.3%.