From gas to groceries, Canadians are paying more as inflation rate hits 4.4 per cent
Whether you're filling up at the gas pump or filling up your grocery cart, it's costing you more. Statistics Canada reported the overall inflation in September reached 4.4 per cent, the highest it's been in 18 years.
Much of that price hike is due to the soaring cost of gasoline with people spending 32.8 per cent more to fill up at the pumps last month compared to September 2020.
Overall food prices climbed nearly four per cent while meat jumped 9.5 per cent.
Sylvain Charlebois, an agri-food analyst at Dalhousie University, told CTV News Calgary that the increasing costs will likely continue for several months.
"This is our new reality," he said
"Prices aren't going to be dropping at all and so we should change our expectations -- we should expect to pay more for food moving forward."
Charlebois anticipates the higher food prices will start to level out sometime around March.
"It's extreme. Everything has gone up. Not double, not triple, but almost quadruple. A lot of prices have gone up," said one Calgarian who had just finished her grocery shopping Wednesday afternoon.
Pushing up the prices are supply-chain constraints, higher demand and labour force shortages that are increasing employee costs.
Gas prices are also expected to hover higher than normal for a little while, experts say.
"We're really in the first inning of what is going to be a surge in energy prices," said Dan McTeague, the president of Canadians for Affordable Energy.
"Not just gasoline, but of course natural gas and propane and other products we desperately need."
StatsCan also released city-specific inflation rates, though the agency cautioned the numbers could fluctuate due to smaller samples.
Calgary's inflation rate for September was 4.2 per cent, down from 4.9 per cent compared to the previous month.
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.