Food inflation tracker: What are grocery prices like in your province?

Inflation could also be declining, however meals inflation in Canada stays excessive, and specialists inform us it might be some time earlier than we see any reduction on our grocery payments.

CTVNews.ca is monitoring month-to-month modifications in grocery costs, utilizing Statistics Canada inflation knowledge, to assist shoppers monitor the impression on their meals payments.

Use the interactive beneath to trace costs of standard grocery retailer gadgets comparable to milk, eggs, cheese, vegatables and fruits and extra, to see how their costs have modified month by month, in addition to how they’ve modified yr over yr.

Note: knowledge for some particular grocery gadgets can be found solely nationally, and aren’t out there by province. Can’t see the interactive above? Click right here.

Meanwhile, regardless of the price of meals staying at uncomfortably excessive ranges for a lot of Canadians, inflation total is anticipated to fall this yr.

Inflation first started rising in early 2021 earlier than it shot up dramatically in 2022, peaking at a whopping 8.1 per cent (have in mind the 2 per cent inflation goal the Bank of Canada is meant to take care of.)

The final six months have proven a downward development within the inflation fee, with the newest headline inflation fee down to five.9 per cent in December.

But what about rates of interest? As our chart beneath exhibits, since March 2022, the Bank of Canada’s coverage rate of interest has saved rising, despite the fact that inflation has crept downward since final summer time.

But Canadians could also be relieved to listen to that economists are saying the central financial institution needs to be sticking to its plan of holding its key fee regular at its subsequent scheduled announcement within the second week of March.