Food inflation rate reaches 41-year high in September

The most recent release of Statistics Canada’s Consumer Price Index shows that inflationary increases in the price of food continue to outpace the overall inflation rate.

During September, that overall inflation rate (as measured on a year-over-year basis) declined to 6.9% from the 7.0% rate recorded for the month of August, a result attributed by StatsCan to recent decreases in the price of gasoline. However, during September the price of groceries increased by 11.4% (as measured on a year-over-year basis), the highest such increase recorded since August of 1981.

More details of the inflation picture for the month, by province and by index component, can be found in the October release of the Consumer Price Index, which is available on the StatsCan website at The Daily — Consumer Price Index, September 2022 (statcan.gc.ca).

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