What is the cost of living increase for Canada?

The cost of living increase for Canada as measured by the Consumer Price Index (CPI) reached 6.7% in March 2023, the highest annual rate since January 1991, according to Statistics Canada. This means that the prices of goods and services have increased by an average of 6.7% over the past 12 months. The increase was primarily driven by higher energy, food, and shelter costs.