The annual rate of inflation exceeded 5% for the first time in more than 30 years, according to Statistics Canada.
The agency says annual inflation rose to 5.1% in January, compared to a 4.8% increase in December.
Prices for housing, gasoline and groceries were responsible for much of January’s increase.
Gasoline prices climbed 31.7% last month compared to January 2021.
Excluding gas prices, Statistics Canada indicates that the annual inflation rate would have been 4.3% in January.
Grocery prices rose 6.5% year over year, the largest annual increase since May 2009.
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