Food inflation tracker: What are grocery prices like in your province?
Food inflation tracker: What are grocery prices like in your province?
Inflation may be declining, but food inflation in Canada remains high, and experts tell us it could be a while before we see any relief on our grocery bills.
CTVNews.ca is tracking monthly changes in grocery prices, using Statistics Canada inflation data, to help consumers monitor the impact on their food bills.
Use the interactive below to track prices of popular grocery store items such as milk, eggs, cheese, fruits and vegetables and more, to see how their prices have changed month by month, as well as how they've changed year over year.
Note: data for some specific grocery items are available only nationally, and are not available by province. Can't see the interactive above? Click here.
Meanwhile, despite the cost of food staying at uncomfortably high levels for many Canadians, inflation overall is expected to fall this year.
Inflation first began rising in early 2021 before it shot up dramatically in 2022, peaking at a whopping 8.1 per cent (keep in mind the two per cent inflation target the Bank of Canada is supposed to maintain.)
The last six months have shown a downward trend in the inflation rate, with the latest headline inflation rate down to 5.9 per cent in December.
But what about interest rates? As our chart below shows, since March 2022, the Bank of Canada's policy interest rate has kept rising, even though inflation has crept downward since last summer.
But Canadians may be relieved to hear that economists are saying the central bank should be sticking to its plan of holding its key rate steady at its next scheduled announcement in the second week of March.
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