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Food Inflation at 5.4%

I am sick of the media’s inability to report the news. Yes, CPI overall is now down to 3.1% for October 2023, but that is not the story. Remember, this percentage is a year-over-year 12-month measurement of growth.

Food inflation stands at 5.4%, down from 5.8% last month. Even that number obscures the bigger issue.

A breakdown of the parts of the Food Portion of the CPI

There is some good news here:

As you can see, egg, fish, and dairy prices are rising at a lower rate. Fruits are still rising in price at an alarming rate.

When folks talk about the CPI decreasing, it does not mean prices are getting cheaper. It means that prices are increasing at a lower rate.

The Globe and Mail

Previous Rants About Inflation

And that is just scratching the surface.

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