Inflation Rate Continues to Cool; Food Prices Still Hot

Feb 21, 2023

The Canadian inflation rate cooled more than expected in January, but food prices remained red hot.

Statistics Canada’s monthly Consumer Price Index on Monday showed last month’s overall inflation rate at 5.9%, down from the 6.3% increase posted in December and below analyst expectations for a 6.1% gain. However, food prices - including both groceries and food from restaurants – jumped 10.4% in January, slightly outpacing the 10.1% increase seen in December.

The cost of food purchased from grocery stores increased 11.4% in January, up from 11% in December, while food purchased from restaurants showed a month-over-month climb of 8.2% versus a 7.7% increase the previous month.

Grocery price acceleration in January was driven in part by a 7.3% year-over-year increase in meat prices, StatsCan said. Fresh or frozen chicken prices were a notable contributor to the gain, rising 9% in January compared with December, the largest monthly increase since September 1986. Additional acceleration was seen in year-over-year price increases for bakery products (+15.5%), dairy products (+12.4%) and fresh vegetables (+14.7%).

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Video: Understanding the Basics of the Renewable Fuel Standard

On Friday, April 24, 2026, from 12 noon–1:00 ET, the Penn State Center for Agricultural and Shale Law, alongside the Pennsylvania Department of Agriculture’s (PDA) Agricultural Business Development Center (ABDC), presented this webinar in the Understanding Agricultural Law Educational Series, a course designed to develop subject matter literacy and competence on fundamental issues of agricultural law for attorneys and business advisors who work with or represent agricultural or rural clients but may not necessarily specialize in agricultural law:

“Understanding the Basics of the Renewable Fuel Standard”

The Clean Air Act’s Renewable Fuel Standard (RFS) program requires transportation fuel sold in the United States to contain a minimum volume of renewable fuels such as ethanol, biodiesel, or advanced biofuels. Established by the Energy Policy Act of 2005 and later expanded by the Energy Independence and Security Act of 2007, the RFS is implemented by the U.S. Environmental Protection Agency (EPA) in collaboration with the Department of Energy and the U.S. Department of Agriculture (USDA).

This webinar provides an overview of the legal authority and structure for the RFS program and explain how it works, including the program’s system of Renewable Identification Numbers (RINs) and categories of renewable fuels. Additionally, this webinar addresses EPA annual volume requirement rulemaking and associated recent legal issues.