A backyard barbecue comes with a bigger price tag this year
Food prices soared 9.7 per cent in May compared with a year ago as inflation hit its highest level in nearly 40 years.
The higher prices could prompt a shift in shopping and consumption habits as people look to save money at the grocery store. Travelling over the long weekend will take an even bigger bite out of budgets. The cost of filling up one tank of gas and spending a night in a hotel room has risen to about $317 from about $220 a year ago — nearly 44 per cent higher.
“But once households have exhausted some of their savings and the pent up demand has waned, we could start to see a bigger change in behaviour.”Article content
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