Inflation cools, except at the grocery store
CBC Canada · New
CBC Canada
New
Canada’s overall inflation rate dropped in July thanks largely to lower gas prices, but grocery prices increased twice as fast as other consumer products.
Breakdown
- Grocery prices in Canada rose 3.4% year over year, outpacing general inflation. 23s
- Fruit, chocolate, and coffee saw the largest price increases. 31s
- Coffee prices spiked over 29%, exacerbated by U.S. tariffs on imports. 48s
- Tariffs have made Canadian coffee roasters more competitive against U.S. imports. 1m 9s
- Overall inflation has cooled due to lower gas prices after the carbon tax was scrapped. 1m 33s