this post was submitted on 27 Jun 2023
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Canada's inflation rate slows to 3.4%, lowest level in almost 2 years (www.cbc.ca)
submitted 1 year ago by RandAlThor@lemmy.ca to c/canada@lemmy.ca
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Canada's inflation rate decelerated to 3.4 per cent in the year up to May, Statistics Canada said Tuesday, led by sharply lower gasoline prices. But beneath the headline slowdown in consumer prices, many facets of the cost of living are still increasing at an eye-watering pace. Grocery prices went up at an almost nine per cent pace.

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[–] lexcyn@lemmy.ca 0 points 1 year ago* (last edited 1 year ago) (3 children)

I don't see how the overall rate could decline with grocery prices increasing 9.1%... our overall buying power is still that much lower. I thought I made decent money but not with what's going on out there now.

[–] Sir_Osis_of_Liver@kbin.social 0 points 1 year ago (2 children)

A median family only spends about 10% of their income on groceries in Canada, down around 7% in the US.

[–] lexcyn@lemmy.ca 1 points 1 year ago

What is a 'median' family, though? We have 2 kids under 10 and let me tell you groceries ain't cheap.

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