Inflation in Canada accelerated in May to 2.4%


Annual price inflation in Canada amounted to 2.4% in May, accelerating against the April value of 2%, official statistics showed. According to economists, the figure was expected at 2.1%. The main contribution to the acceleration of inflation was made by the increased prices of food and durable goods. Over the month, consumer prices rose 0.4%, repeating the April pace. The forecast of economists suggested an increase of 0.1%. In annual terms, growth showed all 8 major categories. Food prices rose by 3.5%. The cost of transport services jumped by 3.1%. At the same time, core inflation in the country reached a maximum level since February 2012, amounting to 2.07%. According to estimates of the Canadian Central Bank, inflation this year will be at the level of 1.9%.

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