July 22nd, 2024

Canadians continue to feel the pinch at grocery store as food inflation ticks higher

By The Canadian Press on June 25, 2024.

Food inflation ticked higher in Canada in May for the first time in nearly a year. A customer shops in the produce section at a grocery store In Toronto on Friday, Feb. 2, 2024. THE CANADIAN PRESS/Cole Burston

Food inflation ticked higher in May for the first time in nearly a year.

Statistics Canada reported Tuesday that grocery prices rose 1.5 per cent in May, slightly higher than in April when they rose 1.4 per cent.

It marks the first acceleration in food inflation since June 2023.

Overall, food prices in Canada are up 22.5 per cent since May of 2020.

Experts say the latest increase indicates the price of groceries will continue to put pressure on household budgets.

A new survey by Lightspeed Commerce Inc. found rising food prices have many Canadians changing their dining out behaviour – from tipping less to seeking out happy hour specials.

This report by The Canadian Press was first published June 25, 2024.

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