3 d. ago
Food prices in Canada keep rising faster than rate of inflation
No, you haven't been imagining it: your grocery bill may have gotten more expensive recently, at least according to Loblaw's September Food Inflation report, which states that food prices have remained above the general rate of inflation due to external pressures.The report, released on Sept. 30, shows that food inflation in Canada rose 3.5 per cent in August compared to the overall Consumer Price Index (CPI) at 1.9 per cent."Much of this gap is tied to broader global factors — such as commodity volatility, higher transportation and energy costs in the supply chain, and weather-related disruptions affecting produce and meat," reads the report.One of these weather-related disruptions is due to the unusually low rainfall seen in the Atlantic provinces, Quebec, and parts of Ontario. Due to this, Loblaw said that crops like corn, soybeans, blueberries, and root vegetables were "stressed during critical growth phases," which in turn reduced yields, ...
Economics
