The inflation is taking over in Canada.

In September, Canada’s inflation increased to a new 18-year high of 4.4% with a growth prices for transportation, shelter and food contributing is the highest jump in the cost of living.

Including gasoline had been risen more than 9% according to Statistics Canada said Wednesday about the transportation indication. Additionally, the majority in the cost of transportation is the price of a car, which rose by 7.2% in the past year for new cars.

“The global semiconductor chip shortage, leading to limited supply, contributed to higher prices in September,” Statistics Canada said.

Food at a grocery store in Toronto in Tuesday also increases significantly beyond to everyone’s budget.

“I stopped buying beef a few years ago because it’s just too expensive,” Martin Rolin told CBC News in an interview. “I usually try to get [groceries] during sales but they’reĀ getting reduced less and less.”

However, fresh veggies have gotten cheaper for 3.2% in the past year, which is giving quite a relief to shoppers.

After the pandemic, economists Doug Porter with Bank of Montreal expected the high prices keep following around for a while.

“The big picture is that inflation continues to march higher, with pressures broadening out,” Porter said of the numbers. “Suffice it to say, that strains the definition of transitory.”

 

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