"We couldn't call it especially surprising, as anyone who puts gas in their car weekly might've guessed," Pierre-Benoît Gauthier, Assistant Vice President of Investment Strategy at IG Wealth Management, told CTVNews.ca in an email. "This uptick is mainly due to soaring energy prices."
In August, the prices for fresh fruit, cereal products and fresh and frozen chicken slowed compared to July.
A number of other products also saw a drop in prices, while some increased minimally.
FOODS THAT 'SLOWED' IN PRICE
Fresh and frozen pork saw a significant drop in August, falling six per cent from July. The item has decreased 0.9 per cent year-over-year.
The pork inflation rate is about the same as bananas year-over-year, which is 0.9 per cent. From July to August, bananas dropped 1.5 per cent in price.
Egg prices did come down about 0.5 per cent in August, but remain at a cost inflated about 3.6 per cent year-over-year.
Processed meat also saw a slight decrease in price between July and August, with a rate of 0.2 per cent. Year-over-year the commodity is still high at four per cent.
Orange prices decreased by 3.9 per cent in August, landing at a still-high 6.8 per cent year-over-year rate.
Read more on BNNBloomberg.ca:
As summer comes to a close, those seeking out ice-cream-related products will see a 2.5 per cent decrease in price. Year-over-year the items have a rate of 7.2 per cent.
Other products have dropped in price between July and August but remain elevated year-over-year, the CPI report shows.
Items like lettuce, tomatoes and fruit juice had small decreases in price from July but have inflation rates above 12 per cent year-over-year.
Fresh vegetables including onions, carrots, peppers and cucumbers did see a small price decrease in August of 1.8 per cent, but remain one of the items with the highest inflation rate year-over-year at 14.8 per cent.
FOODS THAT INCREASED IN PRICE
Although there was minimal change in prices from July to August, as noted by StatCan, some items did cost Canadians more.
Frozen and dried vegetables and edible oils and fats both increased by 0.7 per cent in price month-to-month.
Both remained with a year-over-year inflation rate above 13 per cent.
Fresh and frozen beef had one of the highest month-to-month increases rising 2.4 per cent. From August 2022 to August 2023 the product's inflation rate is 11.9 per cent.
Coffee and tea also increased in price by 2.4 per cent from July, landing at a yearly inflation rate of nine per cent.
Sugar and confectionary products climbed 2.2 per cent in August with a year-over-year inflation rate of 10.9 per cent.
Fruit prices including grapes and berries did rise in price by 1.2 per cent in August. Year-over-year the price hovers around nine per cent higher.
Other items that increased in price from July include butter, potatoes and apples.
Food inflation tracker
All data is from Statistics Canada's . Data updates once per month. See for planned updates.
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