Most recently, year-over-year price increases of food purchased at grocery stores surged to 11.4%, even as the broader CPI slowed to 5.9%
Food inflation could be nearing a peak, new analysis from Canadian Imperial Bank of Commerce shows.in the second half of this year, which would be a relief from the biggest increases in grocery prices since the 1980s. Their forecast is based on a number of changes, including the value of Canadian dollar, falling costs for imported food and post-pandemic spending burnout.
Inflation has been on a tear since late 2021, rising to 8.1 per cent in June 2022, a four-decade high. But,has consistently outpaced the headline reading of the consumer price index . Most recently, year-over-year increases of food purchased at grocery stores surged to 11.4 per cent, even as the broader CPI slowed to 5.9 per cent.
Grocery bills should also fall because global food prices are “softening,” the economists said, adding they expect consumers to benefit at the grocery store because the inflation rate on imported food has “decreased quite sharply.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
Leer más »
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
Leer más »
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
Leer más »
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
Leer más »
Posthaste: Canadians' interest payments are growing at the fastest pace in more than 30 yearsPosthaste: Canadians are paying 45% more interest than a year ago, biggest increase in at least 30 years
Leer más »
British finance minister unveils budget, forecasts no recession this yearU.K. Treasury chief Jeremy Hunt said on Wednesday that the government will ‘take whatever steps are necessary for economic stability’
Leer más »