Surging gas prices compound inflation's toll on Canadians, hurt consumer sentiment

Gas prices in Canada are continuing to smash records, setting the stage for potentially lasting consequences on everything from the cost of goods to consumer behaviour.

The price of a litre of gasoline jumped to an eye-watering $2.22 cents per litre in Vancouver on Monday as prices at pumps across the country trended up to start the week. 

Rising gas prices are compounding the economic toll of inflation on Canadians, experts say.

This is because higher fuel prices have a knock-on effect throughout the economy, pushing up prices for other goods and hurting consumer sentiment, they say.