Annual inflation rate rises to 5.1 per cent in January on broad price increases

Statistics Canada says the annual pace of inflation topped five per cent for the first time in more than 30 years.

The agency says the annual inflation rate rose to 5.1 per cent in January compared with a gain for 4.8 per cent in December.

Driving much of the increase in January were prices for housing, gasoline and groceries.

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Gasoline prices were up 31.7 per cent last month compared with January 2021.

Excluding gasoline prices, Statistics Canada says the annual rate of inflation would have been 4.3 per cent in January.

Prices for groceries increased year-over-year by 6.5 per cent for the largest yearly increase since May 2009.

This report by The Canadian Press was first published Feb. 16, 2022.