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Get email updates from your favourite authors. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Sign In or Create an Account or Gasoline prices rose by 22.8 per cent year-over-year in August following a 25.7 per cent increase in July, according to Statistics Canada data released on Monday.
Officials said Canada’s inflation rate would have been 2.4 per cent in August and 2.2 per cent in July if this category was excluded. However, the slowdown in gasoline prices was offset by higher prices for travel tours and rent, which edged up by 26.1 per cent and 2.8 per cent annually, respectively. SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.
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The next issue of FP West: Energy Insider will soon be in your inbox. We encountered an issue signing you up. Please try again Grocery price growth fell below the overall inflation rate for the first time since July 2024, with prices for food purchased from stores rose by 2.8 per cent year-over-year in August following a 3.1 per cent increase in July.
Dairy products led the slowdown in grocery store inflation. Prices rose by 0.7 per cent annually in August after a 3.1 per cent increase in July due to slower price increases for cheese and yogurt. Smaller price increases for pork; condiments, spices and vinegars; and fresh fruit also contributed to the year-over-year slowdown in grocery inflation in August.
Statistics Canada noted, however, that grocery store prices have increased by around 29 per cent since August 2021 despite the recent easing. Core inflation measures remained stable in August. CPI-median stayed flat at two per cent in August and July, while CPI-trim held steady at 1.9 per cent during the same time period.
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Source: Financial Post
