Inflation in B.C. spikes higher than national average
Posted June 22, 2022 5:56 pm.
While the rate of inflation is sky-high across the country, here in B.C. we have seen a bigger jump than the national average.
Last month, the inflation rate in the province was 8.1 per cent — up 1.4 per cent from the previous month.
For anyone under the age of 40, this is the biggest jump in the cost of living since they’ve been alive.
Related Article: Inflation soars to 7.7% in May, highest in nearly 4 decades: Statistics Canada
Some of it is reflected in the price of gas, but food prices are also up nearly 10 per cent year-over-year.
The Bank of Canada has raised its key interest rate target three times this year to try to bring inflation under control.
Vancouver and Victoria posted identical rates of 8.2 per cent in May — well over a percentage point higher than the month earlier — with Stats-Can saying a nearly 10 per cent spike in food costs also contributed to the increase.
