By Kim Mackrael
OTTAWA--Canada's annual inflation rate accelerated in May to the fastest pace in a decade, as the effects of last year's economic shutdowns continued to put upward pressure on some consumer goods and prices for shelter and passenger vehicles rose.
Canada's consumer-price index rose 3.6% on a year-over-year basis in May, Statistics Canada said Wednesday, faster than the 3.4% increase recorded in the previous month. Market expectations were for a 3.5% rise in May, according to economists at TD Securities.
On a month-over-month basis, prices climbed 0.5%. On a seasonally adjusted basis, CPI rose 0.4% in May from the previous month.
Write to Kim Mackrael at kim.mackrael@wsj.com
(END) Dow Jones Newswires
06-16-21 0907ET
