New Statistics Canada data shows that the price of some basic grocery items across Canada is surging in the double digits.
The latest monthly update by the department indicates that items like chicken, tomatoes and fruit have all been impacted by inflation, according to Blacklock’s Reporter.
In British Columbia, the price of chicken thighs grew by 21% over the year, from $6.58 to $7.97 per kilogram.
As for Ontario, consumers had to pay 13% more for chicken breast and 24% more for bacon.
Meanwhile, Quebecers observed that the price of potatoes grew by an average of 24%, while pork loin was up 17% since last year.
In Alberta, consumers faced a price hike for tomatoes by 13% and an 18% spike in the price of peppers.
The Bank of Canada has denied that Canada has been undergoing inflation in the past. Only half a year ago, former governor of the Bank of Canada Stephen Poloz said that price hikes did not indicate inflation.
“This is not inflation. This is normalization of prices,” Poloz told the House of Commons finance committee on May 18, 2021.
“I agree with what I’ve heard from various central banks, including our own, that the inflation we’re observing right now is very likely to be transitory. I can say flippantly not to worry about inflation.”
To date, the Bank of Canada has revised its inflation targets up to 4.75%.
Critics like the Canadian Taxpayers Federation (CTF) have blasted the federal government’s vast spending and the Bank of Canada over inflation concerns.
“Since the pandemic began (beginning of March 2020), the Bank of Canada has printed more than $380 billion,” CTF Federal Director Franco Terrazzano told True North in October.
“The stats are showing what everyone is feeling: pain from sky-high cost of living. It’s time for the feds to take the printing press out of overdrive, rein in the overspending and provide tax relief.”
