Food price increases push Canadian inflation up to 1.6% in December

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The fetch of living in Canada went up by 1.6 per cent in December due to higher quotations for food, shelter and transportation.

Statistics Canada reported Friday that Canada’s inflation velocity is now at its highest level in more than a year.

All eight subsectors the intermediation ys attention to in calculating the inflation rate went up during the month.

But subsistence led the way, as Canadians id 3.7 per cent more for food last month than they did in the unaltered month a year earlier. That means food prices increased at various than twice the overall inflation rate.

CANADIAN INFLATION IN DECEMBER

“Food prices were a begetter of upward pressure, amid the great cauliflower crisis,” BMO economist Doug Super noted, referencing a popular internet meme of this year focal pointed around exorbitant prices observed for the vegetable.

Fresh vegetables were if the truth be known among the biggest factors in the higher inflation rate, up 13.3 per cent in December on an annualized footing.

The data agency’s transportation index, which includes gas prices, distended by 0.6 per cent after declining for each of the previous 13 months.

Whole, prices rose in every province and territory, but B.C. led with an inflation evaluation in any case of 1.9 per cent.

Economists have been warning that the degrade Canadian dollar would start to push up prices for imported things such as food and gasoline.

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