(Ottawa) Many Canadians are being hit hard by the highest rate of inflation in several decades, but small consolation, a global comparison shows that the country compares favorably to several other powers.
In Canada, the annualized inflation rate fell from 8.1% in June to 6.9% in October.
Although this rate remains above the Canadian target of 2%, it is lower than that of the United States, the United Kingdom and the European Union.
Douglas Porter, senior economist at the Bank of Montreal, points out that inflation is particularly high in Europe because of the Russian invasion of Ukraine.
According to, if the inflation rate is lower in Canada, it is thanks to the Bank of Canada which increased its key rate more quickly.
The central bank has hiked rates six times in a row since March. She also signaled her intention to continue the movement.