Food inflation: Steep price hikes for vegetables kept food costs high in December
BNN Bloomberg
A rapid rise in prices for fresh vegetables in December offset slower price growth for other food items and kept overall food inflation high, Statistics Canada reported on Tuesday.
StatsCan inflation numbers showed prices for food rose 11 per cent in December compared with a year ago, slightly down from the 11.4 per cent price growth reported in November.
Fresh vegetable prices rose 13.6 per cent in December after a November increase of 11.2 per cent, the report said, offsetting slower growth in items like non-alcoholic beverages, coffee and tea, bakery products and preserved fruit preparations.
StatsCan attributed the “accelerated price growth” for vegetables to poor weather in growing regions, leading to a 21.9 per cent year-over-year price hike for tomatoes and 11.7 per cent increase for other fresh vegetables.
