Consumer-price increases reached their highest since January 1983, Statistics Canada reported, with gas prices up 54.6 per cent from June 2021. But the agency reported that prices in seven of the eight categories it tracks rose three per cent or more (clothing and footwear, at 2.7 per cent, was the exception), so inflation is hitting broadly. Also undergoing a big catch-up as anti-pandemic restrictions are lifted are travel-related costs, with prices for accommodation rising 49.7 per cent from June 2021. (The Logic)

Talking point: When the Bank of Canada hiked its key interest rate a full point this month, it predicted that inflation would top eight per cent for at least a few months, so the StatCan finding isn’t a shock. And there are small signs that the central bank’s moves are beginning to have their desired effect: a slight decrease in housing prices meant StatCan’s shelter category rose more slowly in June than in May.