FXstreet.com (Barcelona) - Consumer prices have increased in Canada in may at a faster pace than in April reflecting sharp increases on gasoline prices, according to the latest figures by Statistics Canada.

Canadian consumer prices Index has increased 2.2% year on year in may, the largest jump since January this year, driven mainly by the 15% increase gasoline prices have gone through in the latest 12 months. The bank of Canada's CPI, excluding food and gasoline prices, has risen 1.5% in May, the same increase as in April.

Month on month, Canadian CPI has grown 1.0%, slightly faster than the 0.8% increase posted in April, whule the Bank of Canada's Core CPI increased 0.3%.