Subscribe with RSS ReaderIn B.C., CPI increased by 2.6 per cent in May compared to a year ago, marking the second highest provincial gain behind Manitoba. The increase was broad-based with the highest year-over-year gains reported in transportation (4.7 per cent), gasoline (3.9 per cent) and food (3.4 per cent).
The recent acceleration in inflation could complicate the Bank of Canada's decision on interest rates given the broad-based nature of the rise. That being said, much of the recent gains have been driven by seasonal and volatile factors (e.g., inclement weather and traveller accommodations), which means we can expect the Bank to remain on the sidelines.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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