Economists say inflation hit 5.7% in February, but hasn’t peaked yet
Statistics Canada says the annual inflation rate climbed to 5.7 per cent in February, with economists pointing to the war in Ukraine as one of the significant factors pushing the consumer price index to its highest point since August 1991.
Helping to drive the increase in February were higher gasoline prices that rose 32.3 per cent compared with February 2021 and 6.9 per cent from a month earlier.
Global’s Anne Gaviola explains why economists are saying this rate has not yet peaked.
