Tuesday, July 16, 2024

Food prices rise by 2.1 per cent


 

Statistics Canada measured a price increase of 2.1 per cent for food purchases in June, the second month of increases compared with the same time last year.


In May the increase was 1.5 per cent.


The overall inflation rate was  2.7 per cent, down from 2.9 per cent in May.


Gasoline prices were up by four-tenths of a per cent following an increase of 5.6 per cent in May.


The increase in food prices must all be in the supply chain between farmers and consumers because drought has ended in California and there's plenty of lower-priced fruits and vegetables on the market and prices for grains and oilseeds are down.