Canada inflation: Here's what will cost you more at the grocery store
CTV
A slight overall reduction in the rate of inflation did not impact grocery prices in Canada, a new report from Statistics Canada shows. Here's which foods are still costing Canadians the most.
Some foods in Canada continue to increase in price, despite a small overall reduction in the inflation rate.
The latest Consumer Price Index (CPI) for May 2023 shows inflation rose 3.4 per cent year-over-year, slightly lower than April's 4.4 per cent increase. According to Statistics Canada, the reduction is a result of falling gas prices.
But grocery prices "remain elevated" the government body says, with an overall nine per cent year-over-year increase from May 2022. The prices in May showcase a small drop from April (9.1 per cent), still pinching Canadians' wallets.
StatCan says edible oils and fats, bakery products and cereal products are the highest year-over-year, with food from restaurants climbing.
In May, food purchased from restaurants increased in price by 6.8 per cent compared to 6.4 per cent in April.
Labour shortages, input costs and expenses are disproportionately impacting these businesses, the CPI report reads.
The price of edible oils and fats is increasing the most in Canada, data from StatCan shows.
