Inflation has come down from its highs, and groceries are no exception.
The Canadian PressArun Sundaram, senior equity research analyst of CFRA Research, joins BNN Bloomberg and talks about Kroger raieses sales outlook on resilent grocery spendings.Statistics Canada reported on Tuesday that grocery prices in August rose 2.4 per cent from the year before, a far cry from their peak of 11.4 per cent in late 2022 and early 2023.
Meanwhile, prices for fish and other seafood were slightly down by 1.8 per cent. Canned salmon saw a particular decline, down 7.1 per cent, as did shrimp and prawns, down 7.3 per cent. Prices for processed meat declined slightly, with prices for ham down three per cent while bacon prices rose 8.6 per cent.Overall prices for dairy products rose 3.3 per cent, while fresh milk was up 2.8 per cent and cheese by 2.3 per cent. Butter prices declined 1.7 per cent.Prices for fresh fruit rose 1.5 per cent, though oranges saw prices fall 6.6 per cent and the price of grapes rose 7.6 per cent.
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Food items that got more expensive in August, and which ones saw prices go downOTTAWA — Inflation has come down from its highs, and groceries are no exception. Statistics Canada reported on Tuesday that grocery prices in August rose 2.4 per cent from the year before, a far cry from their peak of 11.
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Read more »
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