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2mo ago

Canada’s Grocery Inflation Hits 4% Year Over Year Ahead of Nov. 4 Budget

Analysts tie the latest uptick to entrenched supply strains, with recent tariffs plus a weaker dollar adding pressure.

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Food prices increased four per cent in September, following a 3.5 per cent increase in August.
A shopper waiting by the counter of a fish monger at the St. Lawrence Market in downtown Toronto, is photographed on Jan 17, 2023. Fred Lum/The Globe and Mail.
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Overview

  • Statistics Canada said grocery prices rose 4% in September from a year earlier, up from 3.5% in August, as overall inflation reached 2.4%.
  • Several staples posted double-digit annual increases, including coffee (32%), salmon (21%), oranges (17%), bacon (16%), beef (13%) and rice (13%).
  • Conservative Leader Pierre Poilievre pressed the Liberal government for an affordability agenda, and the finance minister said measures will be presented in the Nov. 4 federal budget.
  • A Globe and Mail commentary highlights long-term environmental drivers of higher food costs—such as climate impacts, soil degradation and pollinator losses—citing FAO evidence of weakened agricultural productivity.
  • A Juno News op-ed by Sylvain Charlebois links renewed price pressures to counter-tariffs and a softer Canadian dollar, and reports Canada currently ranks third-highest for food inflation in the G7.