Grocery store prices caused rising inflation in September: StatCan
Statistics Canada says food prices have been increasing at a faster rate than all the items the consumer price index tracks for 10 consecutive months.
Canadians are continuing to feel the pinch at the grocery store as food prices soared last month at the fasted rate since August 1981.
Statistics Canada’s latest consumer price index report shows that while overall inflation cooled slightly to 6.9 per cent for the month of September from 7.0 per cent inflation in August, food prices were up a staggering 11.4 per cent compared with a year ago.
Statistics Canada says food prices have been increasing at a faster rate than all the items the consumer price index tracks for 10 consecutive months.
Statistics Canada says on a year-over-year basis, Canadians paid more for items such as meat, which was up 7.6 per cent, dairy products, which rose 9.7 per cent, bakery products, which rose 14.8 per cent, and fresh vegetables which were up 11.8 per cent.
The agency says unfavourable weather conditions contributed to food price increases.
Higher prices for important inputs such as fertilizer and natural gas, as well as geopolitical instability stemming from Russia’s invasion of Ukraine also contributed to the increases, Statistics Canada says.
