While the rising cost of food continues to outpace the overall rate of inflation, one Canadian expert says the industry may have already reached its peak.
, making it the largest yearly change since January 1983.compared with June last year, although that rate is unchanged from May."Certainly, that's why people are still noticing higher prices at the grocery store and at the restaurant," Sylvain Charlebois, professor and senior director of the Agri-Food Analytics Lab at Dalhousie University, told CTV News Channel on Wednesday.
The price of gasoline, which rose more than 50 per cent in June compared to a year ago, is largely driving the latest increase in inflation, according to StatCan.The latest figures come after Canada witnessed aCharlebois said inflation is rising faster in certain areas.show certain products have seen larger increases to their average retail price compared to others.
Citing data analytics company NielsenIQ, Charlebois said Canadians also appear to be buying more food at dollar stores, with food sales up 18 per cent since March. He referred to this consumer trend as "trading down." "Taxpayers and consumers deserve better. Our quota system was designed to make our dairy sector immune to inflationary cycles. Something is not working."on July 13 in an attempt to temper inflation, following a series of increases earlier this year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Suncor sale of Petro-Canada would transform company, alter Canadian gasoline retail landscapeAs Suncor could divest itself of Petro-Canada’s 1,500-site retail network, potential buyers face a risk of the infrastructure becoming obsolete as cars and trucks electrify
Read more »
Diane Francis: Canada did not have to violate its own sanctions against RussiaCanada’s decision to ship a turbine to Germany for use on Russia\u0027s Nord Stream pipeline is unacceptable, writes Diane Francis. Read more.
Read more »
Diane Francis: Canada did not have to violate its own sanctions against RussiaCanada’s decision to ship a turbine to Germany for use on Russia\u0027s Nord Stream pipeline is unacceptable, writes Diane Francis. Read more.
Read more »
When it comes to food, energy and medicine, Canada needs to be more self-reliantBefore COVID-19, we saw how international disputes can wreak havoc. China, for instance, abruptly cancelled billions of dollars of canola imports from Canada, sending our farmers into a tailspin. Then, throughout the global pandemic, we saw how supply lines for so many products we rely on can easily be disrupted and cause reverberations throughout our
Read more »
Dodgers all-star Freddie Freeman '100 per cent in' to play for Canada at next WBCThe all-star Los Angeles Dodgers first baseman said he’s interested and has already had conversations about suiting up for Canada at next year’s World Baseball Classic, the way he did at the last tournament in 2017.
Read more »
Canada sent repaired Nord Stream turbine to Germany on SundayUkraine\u0027s Zelenskyy said he had told Justin Trudeau on Sunday that Ukrainians would \u0027never accept\u0027 Canada\u0027s decision to return the turbine
Read more »