Inflation Rate at Highest Level Since 2003

Thunder Bay Gas Prices October 6

Thunder Bay – The price of almost all goods and many services have increased in price. Statistics Canada reports that the annual inflation rate is 4.4% and increasing.

There is a perfect storm with the combination of increased consumer demand, rising energy prices, product shortages, and global supply chain issues all contributing to the rising rate of inflation.

At the gas pump, consumers are seeing increased prices.

The increased energy prices are a factor in increased prices at the grocery stores.

Inflation is now at the highest rate since 2003.