The inflation rate in December rose 3.4 per cent, following a 3.1 per cent increase in November.

In December there was an increase in the cost of gasoline, rent, airfares, and passenger vehicles.

Prices for food purchased from stores rose 4.7 per cent year over year in December, unchanged from the increase in November. In Newfoundland and Labrador specifically, the rate of inflation was near the national average at 3.4 per cent.