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Inflation Up, Mostly on Food Prices
Canadians paid just over 4% more for food bought in grocery stores in December year-over-year, which followed a year-over-year increase of 3.7% in November.
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“It’s kind of following the script, if you will, of what forecasters were looking for”.
The data agency’s transportation index, which includes gas prices, increased by 0.6 per cent after declining for each of the previous 13 months.
Food sales also rose, driven by higher volumes as food prices were unchanged compared to the month before. Prices for passenger vehicles also rose.
In addition to the trip to the supermarket, Canadians are paying more for home and mortgage insurance, cars, and electricity.
Prices for fresh fruit were up 13.2% compared to a year earlier, while fresh vegetables rose 13.3%.
They were 11.8 per cent more expensive than they were a year ago.
Pasta products: They were 9.5% more costly than they were a year ago.
Jan 22 Canada’s annual inflation rate rose in December as food prices surged, Statistics Canada data showed on Friday, suggesting the impact from the lower Canadian dollar was being felt.
Oranges: They were 8.8% more expensive than they were a year ago.
Fresh or frozen beef: Beef was 5.8 per cent more costly than it was a year ago.
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Analyst Ian Lippert said during the same period, Manitoba’s inflation was 1.5 per cent. The fourth-highest in the country. Economists surveyed by Bloomberg predicted that overall monthly prices would fall 0.4 percent and the core rate would fall 0.3 percent. “If that’s the case, then imported food prices will go up a bit more”.