Prices for food purchased in stores rose 9.9 per cent on the year, compared with 9.4 per cent in June, led by bakery prices, which are heavily influenced by the price of wheat, which will almost certainly remain elevated, given the supply issues that have resulted from Russia’s invasion of Ukraine.Article content
Inflation slowed considerably month to month, as the consumer price index increased only 0.1 per cent from the previous, after surging 1.4 per cent between May and June. Still, the pervasiveness of inflation is a concern. Because oil has such an outsized influence on the headline number, the Bank of Canada watches threethat attempt to smooth volatility. On average, those measures increased 5.3 per cent in July from a year earlier, compared with 5.2 per cent in June.
So inflation drops whenever Trudeau leaves the country for extended periods of time?
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