BC inflation is above the national average

Bc Inflation Is Above The National Average

While the inflation rate is very high across the country, here in the BC we have seen a jump greater than the national average.

Last month, the inflation rate in the province was 8.1% – an increase of 1.4% from the previous month.

For anyone under 40, this is the biggest jump in the cost of living since they’ve been alive.

Related article: Inflation rises to 7.7% in May, highest in nearly 4 decades: Statistics Canada

Some of this is reflected in the price of gas, but food prices have also increased by almost 10% year on year.

The Bank of Canada has raised its interest rate target three times this year to try to rein in inflation.

Vancouver and Victoria recorded identical rates of 8.2% in May – well over a percentage point above the previous month – with Stats-Can saying that a nearly 10% increase in food costs also contributed to the rise.

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