Tuesday, November 19, 2024

Food price increases top inflation rste

Food prices rose by 2.7 per cent in October, more than the overall inflation rate of two per cent, reports Statistics Canada.

October was the third consecutive month price growth for groceries outpaced headline inflation.


Notable contributors to the acceleration were higher prices for other fresh vegetables ( up by 7.3 per cent) and preserved fruit and fruit preparations ( up by 7.6 per cent). 


The acceleration was moderated by downward pressure from fresh or frozen beef in October (up by seven per cent compared with 9.2 per cent in September), among other food items.