Grocery prices increase at highest pace since 2009

By The Canadian Press

Inflation at highest rate since August 1991

Annual inflation rate hit 5.7% in February amid broad-based price increases

Mar 16, 2022 | 7:36 AM

OTTAWA – Statistics Canada says the annual inflation rate climbed to 5.7 per cent in February, its highest level since August 1991 and the second straight month over 5 per cent.

Helping to drive the increase in February were higher gasoline prices that were up 32.3 per cent compared with February 2021 and 6.9 per cent from a month earlier.

Statistics Canada says that excluding gasoline prices, the headline inflation rate would have been 4.7 per cent in February.

Grocery store prices were up 7.4 per cent for the largest yearly increase since May 2009, pushed higher by rising fuel costs that are being passed on to consumers.

Statistics Canada says shelter costs, which includes prices for homes and rental units, rose at their fastest pace since August 1983.

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The rise in the consumer price index compared with a year-over-year gain of 5.1 per cent in January.

This report by The Canadian Press was first published March 16, 2022.

(The Canadian Press)