Posted AT 7:24 PM EST on 21/08/08
Gas and food prices drive inflation higher
OTTAWA — The once-overheated Western economy is no longer the inflation hotbed of Canada.
That dubious distinction now belongs to the slow-growing Eastern provinces. Ontario, where economic growth is non-existent but food and fuel prices are rising fast, is the stagflation centre of the country, new consumer price data from Statistics Canada show.
The national annual inflation rate was 3.
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