Grocery inflation slows in March, but price growth at restaurants remains strong
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Inflation on groceries continued to slow in March, rising just 1.9 per cent compared with a year earlier.
That’s a far cry from the peak of grocery inflation at 11.4 per cent in late 2022 and early 2023.
However, prices on food purchased from restaurants rose 5.1 per cent from a year earlier, the same rate as in February.
Restaurant prices were one of the five biggest contributors to overall inflation in March, Statistics Canada said, along with mortgage interest, rent, gasoline and car insurance premiums.
Overall inflation for March was 2.9 per cent, rising slightly from February.
Food inflation, including both groceries and restaurants, was three per cent in March.
This report by The Canadian Press was first published April 16, 2024.
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