Ottawa: In order to keep up with inflation, Employment and Social Development Canada stated that the federal minimum wage will rise from Canadian Dollar (C$) 15 to 15.55 per hour on April 1.

According to Statistics Canada, the federal minimum wage, which went into effect on December 29, 2021, is automatically raised on April 1 of each year based on the average yearly increase in the Consumer Price Index (CPI).

"This is to ensure that the federal minimum wage stays up with inflation, and this year's rate hike mirrors the previous calendar year's 3.4 percent annual average rise in the CPI for Canada." Workers and interns in federally regulated private industries, like as banking, postal and courier services, and inter-provincial air, rail, road, and maritime transportation, will be affected by this change.

Approximately 18,500 employers work in federally regulated businesses, including federal Crown corporations, employing 955,000 people, or 6% of all workers in Canada. The higher rate will continue to apply to people working in provinces or territories where the general minimum wage rate is greater, according to the announcement. Inflation in Canada is high, with the rate exceeding 5% for the first time since September 1991, and reaching 5.1 percent in February on a year-over-year basis.

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