Highest inflation rate in 40 years takes an outsized bite out of annual wages and salaries in 2022
The Consumer Price Index rose 6.8% on an annual average basis in 2022, the largest increase in 40 years, taking an outsized bite out of real annual wages, salaries and commissions reported by tax filers in that year. In 2022, tax filers reported median wages of $45,380, down 1.6% from 2021 after adjusting for inflation.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
Type
New Data
Off