The cost of food and housing continued its slow upward progression in November, but it is the cumulative increase over three years that attracts attention on Tuesday.
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Since November 2021, Statistics Canada indicates, the price of food at the grocery store has jumped 19.6% and that of housing has followed the same trajectory, at an 18.9% increase.
Over the past year, from November 2023 to November 2024, the increase in food prices has been 2.6%, compared to 2.7% in October.
Inflation as a whole was 1.9% in Canada in November and 1.5% in Quebec.
This drop in inflation below 2% is a slowdown which can be explained by a less marked increase in the cost of mortgage interest and the price of organized trips, indicates Statistics Canada.
In burst
Prices for travel services decreased to a lesser extent in November (-6.7%) compared to October (-7.1%), according to the federal agency. In addition, the mortgage interest cost index also slowed to 15e consecutive month in November (+13.2%), after recording an increase of 14.7% in October.
Conversely, the growth in rental prices accelerated from one year to the next in November (+7.7%) compared to October (+7.3%), “which exerted a upward pressure on the all-items CPI,” notes Statistics Canada.
With the collaboration of the QMI Agency
Change in the CPI, between November 2023 and November 2024
Store-bought foods: 2.8%
Housing: 4.6%
Clothing and shoes: -3.8%
Essence: -0,5%
Transports : 1,1%
Health and personal care: 2.8%
Alcoholic beverages, tobacco and cannabis: 2.7%
All of Canada: 1.9%
