CANADIAN INFLATION RATE IN SEPTEMBER HITS 18-YEAR HIGH

Oct 20, 2021

By Bob Komsic

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If you go to the grocery store regularly or pull up to the pumps then this will not surprise you.
Canada’s inflation rose 4.4% year-over-year last month, soaring to a level not seen since February 2003.
Driving most of that increase were gasoline prices which motorists 32.8% more in September than a year ago.
Statistics Canada says the annual inflation rate would have been 3.5% had gas prices been excluded.
Another major reason for the big increase was the price of vehicles, which went up 7.2%.
The worldwide semi-conductor chip shortage lead to, and continues to lead to limited supply, so what’s on the lot of a dealership costs more.
Shelter costs have gone up 4.8% in the last year, while food prices are up 3.9%.
You name it, just about every type of food rose sharply; especially meat, which went up 9.5% from last year – the biggest increase in six years.
Beef’s up more than 13%, chicken prices are up 10%, pork more than 9%.
Believe it or not fresh vegetable prices are actually 3.2% cheaper than a year ago.
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