this post was submitted on 18 Jul 2023
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Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range. (lemmy.ca)
submitted 1 year ago by mxwarp@lemmy.ca to c/canada@lemmy.ca
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Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.

Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.

The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.

https://www150.statcan.gc.ca/n1/daily-quotidien/230718/dq230718a-eng.htm?HPA=1

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[–] Showroom7561@lemmy.ca 13 points 1 year ago (2 children)

Canadians continued to see elevated grocery prices (+9.1%)

I don't know about anyone else, but it's been a minimum 30% increase for food, and I've seen upwards of 200%+ for groceries we used to be able to afford.

[–] MacroCyclo@lemmy.ca 3 points 1 year ago

Yeah, the grocery bill has been insane this past year.

[–] dom@lemmy.ca 3 points 1 year ago (2 children)

I wonder if it's because of what they are including in their percentages. Like, if meat, cheese, eggs, and produce skyrocketed, but a ton of processed garbage didn't, then it'll make the numbers look lower than it is in practice.

[–] Jason2357@lemmy.ca 2 points 1 year ago

Yes, a grocery store contains thousands of items, and as always, inflation hits the necessities worst, and luxuries the least (because demand for the latter is "elastic").

[–] Showroom7561@lemmy.ca 2 points 1 year ago

Yeah, that's entirely possible!