Overall inflation might be slowing down, but you won't see evidence of that in your grocery store aisles
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The annual inflation rate has slowed to 3.4 per cent -- the lowest it's been since July 2021. You might have noticed it at the gas pumps, but you probably didn't at the grocery store.
The annual inflation rate has slowed to 3.4 per cent -- the lowest it's been since July 2021.
You might have noticed it at the gas pumps, but you probably didn't at the grocery store.
That's because food inflation has remained stubbornly high.
"We have the headline going in the right direction, but that's largely because of gasoline," said Jimmy Jean, chief economist for Desjardins.
Gasoline dropped by a whopping 18.3 per cent in May, but that was offset by the cost of items in your local grocery store aisles:
That's just a few of the staples that add up to overall food inflation being nine per cent year over year in May.
Despite the rising cost of food, economist Sylvain Charlebois says Canadians are actually spending less at grocery stores.
