Higher prices for transportation, shelter, and food push inflation rate to 18-year high

Increases were not unexpected, but are higher than anticipated

Canada’s inflation rate rose to 4.4 per cent last month – an 18-year high.

Prices at the pump led the charge, climbing nine per cent from August to September – and almost 33 per cent in the last year-and-a-half.

The cost of a new car, if you can find one, was up 7.2 per cent last month. Shelter costs rose 4.8 per cent and food prices by 3.9 per cent.

Most of the increases are due to the impact of the pandemic, which has thrown supply and demand into a tizzy.

The only part of the grocery basket giving shoppers relief is fresh vegetables, which are 3.2 per cent cheaper in the past year.

Price increases were not unexpected, but economists admit they’re higher than what was anticipated.

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