June Inflation Rate Reaches A Nearly 40-Year High

by Bobby NockJuly 20, 2022

Stats Canada says the inflation rate hit 8.1 percent in June.

That’s the biggest increase in the consumer price index since 1983.

The inflation rate in May reached 7.7 per cent.

Last week, the Bank of Canada hiked its key interest rate by a full percentage point in an effort to slow skyrocketing inflation.

The rate hike is the biggest single increase in more than 20 years.

Bobby Nock

Bobby grew up in Whycocomagh before moving to Halifax to attend university where he earned a Bachelor of Arts and a Bachelor of Journalism degree. After university, Bobby moved back to Cape Breton where he began working as a freelance journalist and has done work for both print media and as a broadcast journalist. As the News Director, Bobby Nock will get your day started by bringing you information that helps connect you to the community with all the latest in local news.

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