statistics canada will issue its latest readings on inflation This morning and it is expected to climb even higher.
Economists expect the consumer price index for June to climb by at least eight percent as food and energy prices rise and the economy reopens.
In May, inflation had reached a 39-year high of 7.7 per cent.
As the cost of living continues to rise, wages in Canada are lagging, rising 5.2 percent on a year-on-year basis in June.
Last week, the Bank of Canada raised its key interest rate by a full percentage point in an effort to slow skyrocketing inflation.
The rate increase was the largest single increase in more than 20 years.
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