B.C. produce prices could rise despite falling inflation
CTV
The Canadian inflation rate for September slowed but the prices of some grocery items could rise further due to outside factors.
The Canadian inflation rate for September slowed but the prices of some grocery items could rise further due to outside factors
According to numbers released by Statistics Canada on Tuesday, inflation dropped to 3.8 per cent after reaching four per cent in August.
The federal agency says grocery prices continue to rise, but the pace of growth fell to 5.8 per cent in September, down from 6.9 per cent in August.
“We’re expecting a much smoother market in the fall. So we’re expecting softer numbers,” said Dr. Sylvain Charlebois, the senior director of the Agri-Food lab.
“We should be finishing the year at five per cent.”
He says the lab's forecast for next year is already showing signs of improvement compared to last year when food inflation was expected to rise to seven per cent.
In British Columbia, Charlebois believes due to several weather factors, grocery stores may have to depend on importing produce from outside of the country.
