Prices of food drove inflation lower, but grocery costs are much higher compared with years ago

Statistics Canada says food prices drove inflation lower in April, with the cost of groceries rising 1.4 per cent compared with a year

 

Statistics Canada says food prices drove inflation lower in April, with the cost of groceries rising 1.4 per cent compared with a year ago.

 

Overall inflation was 2.7 per cent in April, down from 2.9 per cent in March.

 

Statistics Canada says meat contributed the most to cooling food inflation, while other contributors included fruit, seafood and non-alcoholic beverages.

 

Meanwhile, inflation on restaurant prices also eased in April, growing by 4.3 per cent compared with 5.1 per cent in March.

 

However, the slowing inflation doesn’t mean the price growth of the past several years is being erased, as inflation is still an increase in prices.

 

The agency says between April 2021 and April 2024, grocery prices have increased 21.4 per cent.

 

 

 

This article was first reported by The Canadian Press