Canada inflation up in May

Canadians paid more for nearly everything -- except gasoline -- in May compared to a year earlier, pushing inflation up 2.4 percent, the government statistical agency said Wednesday.

The broad-based gains topped economists’ expectations, following a 2.0 percent average price increase the previous month.

“Prices increased year over year in all eight major components in May, with six components growing at faster rates and two components growing at the same pace compared with April,” Statistics Canada said in a statement.