Canadians paid more for housing and groceries in October, according to new figures from Statistics Canada.
Overall, inflation as measured by the Consumer Price Index (CPI) rose by 0.7 per cent on a year-to-year basis in October, up from a 0.5 per cent increase in September with higher food prices leading the way.
Excluding gasoline, Canada’s CPI rose one per cent in October, matching the increase in September.
Prices for fresh vegetables continue to rise, up 9.5 per cent year-over-year in October, after having risen 3.6 per cent in September. Notably, lettuce prices rose 25.6 per cent in October as disease and bad weather in growing regions depressed supply.
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Meat prices also rose 1.7 per cent on a year-over-year basis in October, following a 0.4 per cent increase in September, with higher prices for fresh and frozen chicken driving the increase.
Canadians also paid more for housing. While mortgage costs continue to drop, higher building costs and sales prices for housing contributed to higher costs for new housing. According to Statistics Canada, new home prices rose at their fastest pace in 14 years.
Canadians, meanwhile, continue to get breaks at the gas pump. Year-over-year, the gasoline prices dropped 12.4 per cent in October.
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