What is the inflation rate in 2022?

The latest consumer price index provides the final data points for inflation in 2022. Statistics Canada said the average inflation rate for 2022 was 6.8 per cent, a 40-year high. The average inflation rate was 3.4 per cent in 2021.

What happened to the CPI in December 2022?

On a seasonally adjusted monthly basis, the CPI was down 0.1% in December 2022. Today, Statistics Canada publishes the release Consumer Price Index: Annual review, 2022, highlighting the annual average consumer inflation in Canada and the regions in 2022. Check out the Personal Inflation Calculator.

Did Canada's inflation rise in December?

The annual pace of inflation climbed to a 30-year-high in December, well ahead of expectations presented to the prime minister in early 2021, according to documents obtained by Global News. Statistics Canada said Wednesday the consumer price index in December was up 4.8 per cent compared with a year ago, its highest point since 1991.

Why did inflation rise faster in 2021 than in Canada?

Source: Statistics Canada, table 18-10-0004-01 . In 2021, inflation in the United States rose at a faster pace than in Canada in part because of much larger increases in used vehicle prices south of the border, which account for a larger share of consumer outlays in the United States.