CPI Report: Food inflation rate fell 1.6% in August
A slowing food inflation rate couldn’t keep Statistics Canada’s latest Consumer Price Index report from jumping from 3.3% to 4.0% in August 2023.
The rate of food price inflation was 6.9% year-over-year in August, a 1.6% decrease from July’s number of 8.5%. Food prices were actually 0.4% lower in grocery stores than the previous month. The headline acceleration was largely the result of higher year-over-year prices for gasoline, which saw their first yearly gain since January 2023.

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Karl Littler
Senior Vice-President, Public Affairs
klittler@retailcouncil.org
416- 467-3783