Different Government same story for Inflation in Canada in October, as reported by our friends at Stats Canada. With Gasoline prices down 17.1% year over year, the real inflation rate published is 1.0% for the 12 months. However, the clarification in the report helps understand food:
Food prices were up 4.1% year over year in October, after increasing 3.5% in September. This acceleration was attributable to higher prices for food purchased from stores, which increased 4.6% year over year in October, after rising 3.9% the previous month. Prices for fresh fruit increased more in the 12 months to October (+13.0%) than in September (+8.5%). In addition, the dairy products index increased year over year in October, following a decrease the previous month. Prices for food purchased from restaurants were up 2.7% year over year.
Sad to see that healthy food is going up in price these days. As I have said, not many folks eat Gasoline, and now they eat less healthy food, too (especially if they have fixed incomes). With the dollar dropping in value, the pressure on the Price Index is only getting worse.
That graphic might give you hope, but the following sums it all up far too well. Just look at how everything is up, but inflation seems low thanks to lower gas prices.
Bank of Canada’s core index
The Bank of Canada’s core index was up 2.1% which is unchanged from last month, so the Bank of Canada thinks inflation is higher. (according to their Operational Guide )
Reports from Previous Months in 2015
- Gas Prices Drive Down Inflation in December to 1.5%
- Lower Prices in January in Canada, Pull the Other Leg
- Expensive Food in Canada in March
- Prices up 0.8% in April or More Fun with Numbers
- Inflation at 0.9% for May (maybe)
- Gas Dampens CPI for July
- Inflation and Silly Gasoline Tricks Continues in August
- Canadians Paid 3.9% More For Food in September
