Statistics Canada says Canada’s annual inflation rate rises to 3.2% in May, driven by higher gasoline prices. The agency reports the increase follows a third consecutive month of rising gas prices linked to developments in the global oil market, including the war in Iran. In its release, StatCan attributes the move in overall inflation to the impact of higher gas costs on the prices consumers pay. The increase brings inflation above 3% for the first time since 2023, marking a shift from the lower rates seen earlier. Multiple outlets report that the year-over-year figure for May is 3.2% and that gasoline and oil price increases are the main contributors. The coverage is consistent across sources: StatCan confirms the May inflation rate, links the rise in part to higher energy prices, and notes that the gain reflects continuing upward pressure from gas prices over several months.