Annual pace of inflation rose in May to 2.4 per cent: StatCan

OTTAWA -- The annual pace of inflation picked up in May as the consumer price index rose 2.4 per cent compared with a year ago, its largest increase since October last year, Statistics Canada said Wednesday. The move compared with a 2.0 per cent increase in April and was the fourth straight month of rising year-over-year increases. Economists had expected an increase of 2.1 per cent for May, according to Thomson Reuters Eikon. TD Bank senior economist James Marple said inflation is back in Canad