Canada's annual inflation rate hits 8.1% in June, highest since 1983

By Tuba Sahin

ANKARA (AA) - Canada's consumer inflation rose to 8.1% in June, its highest since 1983, according to Statistics Canada data released Wednesday.

The figure, below a forecast of 8.4%, was up from 7.7% in May, mainly led by higher prices for gasoline which soared 54.6% year-on-year.

Prices rose at a faster rate for transportation (up 16.8%), and recreation, education, and reading (up 6.3%) while food inflation remained stable at 8.8% in June.

On a monthly basis, the Consumer Prices Index increased 0.7% in June, following a 1.4% rise in May.