/newsroom/taxonomy/term/17464/all en /newsroom/channels/news/experts-canadian-inflation-hits-new-three-decade-high-337881 <p>Inflation hit a new three-decade high in January, heaping more pressure on the Bank of Canada to raise interest rates for the first time since the pandemic started. The consumer price index rose 5.1 per cent in January from a year earlier, accelerating from December’s pace of 4.8 per cent and marking the first time since 1991 that inflation has surpassed 5 per cent, according to Statistics Canada. It was the 10th consecutive month that inflation has exceeded the Bank of Canada’s target range of 1 per cent to 3 per cent.</p> Wed, 23 Feb 2022 17:07:52 +0000 frederique.mazerolle@mcgill.ca 286063 at /newsroom