Toronto Star, in its December 20, 2011 article, reports that Canada’s Inflation is poised to hit 20-year high.
Extract :
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Canada’s average annual rate of
inflation is likely to come in at nearly 3 per cent this year – its
highest level in 20 years, economists say.
The surge in the cost of living comes
at precisely the same time as the Bank of Canada has kept its key interest
rate at a record-low 1 per cent to mitigate concerns about the faltering
global economy.
Some of the robust inflation rate was
due to sales taxes. The Quebec Sales Tax went up to 8.5 per cent from 7.5 per
cent in January.
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