“Rent” Inflation in Canada Spikes to Highest Since 1983, amid Spike in Population. Homeownership CPI Remains Red-Hot

by Wolf Richter Wolf Street

Prices eased in other categories.

The scary part about inflation in Canada is the red-hot rent inflation, which has shot up in nearly a straight line to 7.3% in September year-over-year, the highest rate since July 1983 when it was on the way down, according to Statistics Canada today. This rent inflation is a huge problem for Canadians.

The Bank of Canada has cited inflation in the housing sector as a major problem. Initially, the problem was in inflation in home prices, before overall consumer-price inflation had even begun to rage. Now the issue of spiking rents gets added to the pile:

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