this post was submitted on 18 Jul 2023
52 points (100.0% liked)

Canada

7185 readers
657 users here now

What's going on Canada?

Communities

🍁 Meta

🗺️ Provinces / Territories

🏙️ Cities / Local Communities

🏒 SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer

💻 Universities

💵 Finance / Shopping

🗣️ Politics

🍁 Social and Culture

Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca

founded 3 years ago
MODERATORS
[email protected]
52
Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range. (lemmy.ca)
submitted 1 year ago by [email protected] to c/[email protected]
54 comments fedilink hide all child comments
 

Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.

Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.

The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.

https://www150.statcan.gc.ca/n1/daily-quotidien/230718/dq230718a-eng.htm?HPA=1

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 4 points 1 year ago* (last edited 1 year ago) (1 children)

The problem with groceries is that the raw product is largely bought on futures contracts, so you're paying last year's price. Last year was inflated due to fertilizer issues and general concern around the Ukraine conflict. The raw product price is now down ~50% since last year, but it will take until next year to see that show up in the store.

[–] [email protected] 6 points 1 year ago

but it will take until next year to see that show up in the store.

I really wish I wasn't so jaded. I can't bring myself to believe that. Hope I'm wrong.