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Grocery Inflation in Canada at 9.1%

For June 2023, Stats Canada published that the CPI, aka Inflation, is 2.8%. That sounds like a good number, but we all know:

There are lies, damn lies and then there are statistics

Bastardization of a well known expression

The real areas to look at are:

  • Grocery is at 9.1% year over year, for those who remember the rule of 72, that means groceries will double in price (at this rate) in 8 years.
  • Restaurant purchases up 6.6%
  • Food overall is at 8.3% year over year, if we check again “Food” will double in 9 years.

Thanks to Gasoline and transport declines, grocery prices are being masked in the overall “good news”

The proof is always in the details, it seems

Unfortunately, the Bank of Canada has no real tools to control grocery prices. Interest rates are a macro tool, that can’t directly affect food prices.

Inflation Commentary

I haven’t been writing about this topic much lately. It is interesting to see these numbers return, but it continues to worry me for the generations behind me.

The Globe and Mail

Previous Rants About Inflation

And that is just scratching the surface.

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