Statistics Canada says the Consumer Price Index (CPI) rose 4.1 percent on a year-over-year basis in August, more than the 3.9 that was expected. Some stunning year-over-year increases include chicken at 8.4 percent and pork at 9.3 percent. Overall, food prices are up nearly 7 percent. This year has seen a widespread resurgence in many products. Getting around is now particularly costly. Gasoline prices were up 32.5 percent compared to 2020 due to lower production than pre-pandemic. As restrictions eased and people started taking more trips, the traveller accommodation price index rose 19.3 percent. Real estate also moved even higher. The homeowners’ replacement cost index, which is based on new homes, was up 14.3 percent, the largest increase since 1987. It’s also the fourth straight month of double-digit growth.
