Canada’s inflation rate rises 4.7% in October

Life is getting more expensive and we know you already know that. Well, now Statistics Canada is validating your concerns.

The latest inflation snapshot for October reveals the cost of living is up 4.7 per cent in the past year and the interest rates are low.

The increase compared with a year-over-year increase in the consumer price index of 4.4 per cent in September.

Statistics Canada said Wednesday that factors contributing to the increase included snarls in supply chains, bumps in prices at the pump and comparisons with lows seen one year earlier.

Anne Gaviola reports.

For more info, please go to https://globalnews.ca/news/8379842/inflation-october-statistics-canada-2/

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