Grocery food has the highest price increase

Canadians have had to spend unprecedented amounts on groceries this year due to inflation, and for some products, October is no exception.

Data from Statistics Canada shows the change in prices of grocery store food products due to inflation last month.

Grocery costs have increased significantly since 2019, following the COVID-19 outbreak.

Factors such as supply chain disruptions, labor shortages, changes in consumer purchasing patterns, bad weather in some developing regions, tariffs, higher input costs and wages higher all contribute to higher grocery bills.

This past September, the year-over-year increase in in-store grocery prices hit a high of 11.4% – the biggest increase since 1981.

The following month, the figure remained at an October high of 11%, and food items such as dairy products, eggs and butter showed some of the strongest price increases, according to Statistics Canada.

Products with the highest monthly price increase in October? Margarine.

Food prices bought from stores slowed in some categories, but still rose in October, 12-month percentage change.

Costs for products such as margarine, pasta, butter, milk and eggs all increased from September to October.

While others – coffee and tea, fruit and vegetables, fish and meat – saw a slight drop in prices last month.

“We are seeing signs that things are starting to calm down. Sylvain Charlebois, senior director of the Agri-Food Analytical Laboratory at Dalhousie University, told CTV News Channel.

The prices of food bought from stores slowed down in some categories, but still rose in October.

“I think we should see today’s report as the light at the end of the tunnel. We’re still in this food inflation storm, don’t get me wrong, and we’re not out of the woods yet. But now we’re seeing a more manageable situation,” Charlebois said.

Source by [author_name]


News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button