People shop for groceries at a Walmart store in Vancouver, British Columbia, Canada, on June 25, 2024. Canada's Consumer Price Index (CPI) rose 2.9 percent on a year-over-year basis in May, up from a 2.7 percent gain in April, Statistics Canada said Tuesday. (Photo by Liang Sen/Xinhua)
OTTAWA, June 25 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 2.9 percent on a year-over-year basis in May, up from a 2.7 percent gain in April, Statistics Canada said Tuesday.
Acceleration in the headline CPI was largely due to higher prices for services, which rose 4.6 percent in May following a 4.2 percent increase in April, the national statistical agency said.
According to the agency, faster price growth for services was led by cellular services, travel tours, rent and air transportation. Prices for goods grew at the same rate as in April.
On a monthly basis, the CPI rose 0.6 percent in May, largely stemming from an increase in travel tours. On a seasonally adjusted monthly basis, the CPI rose 0.3 percent in May, said Statistics Canada. ■
A customer shops for groceries at a Walmart store in Vancouver, British Columbia, Canada, on June 25, 2024. Canada's Consumer Price Index (CPI) rose 2.9 percent on a year-over-year basis in May, up from a 2.7 percent gain in April, Statistics Canada said Tuesday. (Photo by Liang Sen/Xinhua)
