Gasoline is up a whopping 41.7% from a year ago.
Excluding food and energy, inflation stood at a more moderate 3.3% yearly increase, matching September’s figure. Gasoline has hit CA$1.6 per liter, or CA$6.2 per gallon, up a whopping 41.7% from a year ago. Transportation and utilities, the latter including water, fuel and electricity, also increased by 10.1% and 8.6%, respectively. The rise in utilities prices stems from high energy prices. Shelter, which accounts for a sizeable portion of consumers’ overall spending, rose by 4.8% on a yearly basis. Shelter prices would have been even higher if not for the rent control and eviction moratorium implemented across most cities and provinces when the pandemic hit. While owned accommodation prices increased by 5.1% on an annual basis, rented accommodation went up by 1.9%, right around the rent control cap of 2%, which kept accommodation prices artificially lower than market prices.