Food prices continue to soar, with food purchased from stores jumping 11.4 per cent annually, the fastest year-over-year rise since August 1981 From alicjawithaj
Inflation cooled slightly for the third month in a row, according to Statistics Canada.
Gas prices were up 13.2 per cent year-over-year, a decline from the 22.1 per cent annual increase reported in August. On a monthly basis, gas prices dropped 7.4 per cent in September following a 9.6 per cent increase in August.with food purchased from stores jumping 11.4 per cent annually, the fastest year-over-year increase since August 1981. The increase in food prices was broad-based, with Canadians paying 7.6 per cent more year-over-year for meat, 9.7 per cent more for dairy products, 14.
BMO Capital Markets chief economist Douglas Porter said in a note to investors on Wednesday that "bluntly, inflation did not ease as much as anticipated last month" and remains "extremely persistent and sticky at above 5 per cent."
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