The cost of many basic groceries is 3 to 4 times higher than inflation: StatCan
If it seems like every grocery trip costs more and the amount of food coming home is getting smaller, that impression could be correct. According to new data from Statistics Canada, the cost of food staples is so high that it is more than three or four times the rate of general inflation.
The latest StatCan Monthly average selling prices for selected products data was released on July 5 and describes rising prices, with dramatic inflation for some items, such as basic groceries, since last year. The data allows for comparisons of dates, such as year-to-year or even month-by-month.
For example, Canadian households buying grapes will pay 34 percent more than in October 2022, with prices ranging from $5.28 to $10.14 per kilo. Grapes are at their highest price in over a year, with a price of $6.64 in July 2022.
Meanwhile, Treasury Secretary Chrystia Freeland said the latest consumer price index report, which is based on average costs for hundreds of goods, from food to shoes and mortgages, was “good news for Canadians.” aCcord to Blacklock’s Reporter on July 6.
“Inflation in Canada has fallen to 3.4 percent, the lowest rate in nearly two years,” Ms. Freeland wrote on Twitter on June 27. “This is good news for Canadians and good news for the Canadian economy!”
The data was released around the same time the government issued a “grocery rebate,” a one-time additional payment to lower-income households who normally receive the GST credit, at a cost of $2.4 billion to taxpayers, according to a 4-year cost estimate. May. by the parliamentary budget office.
Basic items such as ground beef are up from $10.64 per kilo this time last year to $11.23 per kilo this month, an increase of 5 percent. For those who enjoy fish, salmon increased from $26.75 per kilogram in July 2022 to $29.09 per kilogram in July 2023, an 8 percent increase.
Margarine currently cost $6.56 per 3 ounces last year, but expect to pay more if you buy the product this month, up nearly 14 percent to $7.46. Butter also suffers from inflation, going from $4.97 for a one-pound block in September 2022 to $6.42 per pound in July 2023, an increase of 22 percent.
Romaine lettuce has seen a price increase from $2 per head in July 2022 to now $3.54 per head in July 2023, an increase of 77 percent.
Olive oil has also jumped from $8.68 a liter last year to $11.96 a liter now, the highest price in 12 months and up 38 percent.
“The data source is scanner data obtained directly from Canadian retailers,” said StatsCan, stating that the pricing report is intended to reflect the true cost of “items commonly purchased by Canadian consumers,” with price increases reflecting national averages.
“Transaction data provides a comprehensive electronic record of transactions made through a retailer’s point-of-sale system and includes relevant pricing information,” StatsCan said.
