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Grocery Inflation in Canada at 8.5%

For July 2023, Stats Canada published that the CPI, aka Inflation, is 3.3%. This is up 0.5% (Year over Year) from the June 2023 numbers. Plenty of reasons for this, but let’s drill down to Groceries.

  • Grocery is at 8.5% year over year, which is a lower increase than last month. However, for those who remember the rule of 72, that means groceries will double in price (at this rate) in 9 years.
    • Fresh Fruit and Bakery goods prices were lower. Those are two areas, however, where previous price doubling had already occurred. Maybe the Baking Elves are feeling a little guilty?

The continual Bank of Canada interest rate increases are also pushing Inflation as well. It has slowed the real estate market, but I am confident my Real Estate influencers will find a way around it. There is talk of the Infinite Mortgage (cough, scam, cough), which causes me to shiver to my bones.

CPI by category for Canada July 2023
EQ Bank

Inflation Commentary

I am protected against some inflation, having equity in my house, and being an old white guy. Yes, that is a reason, as I have been able to build up savings during a ridiculous Stock Market world of the past decade or two. For my children and their children, I have no idea what needs to change, but something will need to change, very soon.

Previous Rants About Inflation

And that is just scratching the surface.

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