Consumer prices rose in January, including a record monthly increase in some meat prices.
Statistics Canada reported on Tuesday that the price of an average bundle of consumer goods went up by 0.5% in January – driven mostly by rising gas prices, mortgage interest costs and meat prices.
Meat prices set a record of nearly 20 years, rising by 3.4% between December and January. The rise included a 37-year-record set for chicken prices, which rose by 9%.
Gas prices rose by 4.7%, and mortgage interest costs rose by 2.5%, breaking a 41-year-record for the mortgage cost – rising by more than 21% year-over-year.
Statistics Canada reported the price of food was not just rising, but accelerating – prices rose 10.4% year-over-year in January, compared with 10.1% year-over-year in December.
The yearly rise for an average bundle of consumer goods was up 5.9%.