Food inflation eased last month, but prices still high: StatCan
BNN Bloomberg
Grocery price inflation slowed in Canada last month, but costs remained elevated above the headline inflation rate, according to Statistics Canada data released Tuesday.
The rate of inflation for grocery prices eased to 5.8 per cent year-over-year in September, compared to a 6.9 per cent increase in August. But that was higher than the annual headline inflation rate, which fell to 3.8 per cent from four per cent in August.
Statistics Canada said the deceleration in food costs stemmed from year-over-year slowdowns in price growth for meat, which rose 4.4 per cent, dairy products, which rose four per cent, and coffee and tea, which rose 2.7 per cent.
“Large monthly gains in September 2022, when grocery prices increased at the fastest pace in 41 years, fell out of the 12-month movements and put downward pressure on the indexes,” the agency said Tuesday.
