Canada’s inflation rate was up 8.1 percent in June compared with a year ago, its largest yearly change since January 1983.
The inflation rate in May was 7.7 percent.
Statistics Canada said price acceleration in June was largely the result of gas prices rising even faster.
In comparison to a year ago, gas prices were up more than 50 percent.
The price acceleration in June is consistent with what economists expected, as energy and food prices continued to rise and the economy reopened further.
In its most recent rate decision, the Bank of Canada opted to hike its key interest by a full percentage point to 2.5 percent, as fears mount over rising inflation expectations among consumers and businesses….