Inflation in Canada averaged 8.1 percent per year from 1971 to 1980 and 6 percent per year from 1981 to 1990. It then averaged 1.88 percent per annum from 1991 to 2020 only to increase to 3.4 percent in 2021. More recently, the annualized rate of inflation reached 5.1 percent in January 2022, the highest rate since 1991.

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