Farms.com Home   News

Grocery Prices Still Higher as Inflation Rate Moderates in July

The price of groceries continued to climb in July, even as the broader Canadian inflation rate moderated. 

A Statistics Canada’s consumer price index on Tuesday pegged the July inflation rate at 7.6%, down from the near four-decade high of 8.1% notched in June. It was the first month-over-month decline in the inflation rate in a year. However, prices for food purchased from stores were up 9.9% in July, compared to the 9.4% advanced posted in June.  

Prices for bakery products (+13.6%) continued to rise at a faster pace as wheat prices remained elevated, StatsCan said. Higher input costs and global supply uncertainty related to the Russian invasion of Ukraine continued to put upward pressure on global wheat prices amid an already constrained supply. 

Other food items also exhibited faster price growth, including non-alcoholic beverages (+9.5%), sugar and confectionery (+9.7%), preserved fruit and fruit preparations (+10.4%), eggs (+15.8%), fresh fruit (+11.7%), and coffee and tea (+13.8%). 

Click here to see more...

Trending Video

Georgia Farm Bureau Unites County Leaders to Strengthen Agriculture Advocacy

Video: Georgia Farm Bureau Unites County Leaders to Strengthen Agriculture Advocacy

The Georgia Farm Bureau recently gathered over 150 county presidents for an event focused on grassroots leadership, advocacy, and collaboration. With agriculture policies starting at the local level, this meeting provided a platform for leaders to share ideas, engage in advocacy training, and ensure a unified voice for Georgia’s farming community. Experts like Tom McCall, Amelia Junod, and Austin Large emphasize the importance of political engagement, consistent messaging, and strengthening connections with legislators. Watch to learn how these leaders are shaping the future of agriculture in Georgia!