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The annual rate of inflation in Canada cooled to 6.8 per cent in November amid falling prices at the gas station, but Statistics Canada’s latest report shows there’s little relief for consumers at the grocery store.⁠ ⁠ In its latest consumer price index (CPI) report released Wednesday, Statistics Canada said slower price growth for gasoline and furniture last month was offset by rapidly rising shelter costs and stubbornly high grocery prices.⁠ ⁠ Grocery prices climbed at a faster annual rate in November. The federal agency said prices rose 11.4 per cent annually, up from 11 per cent in October.⁠ ⁠ Among items seeing the biggest annual price growth were edible fats and oils (up 26 per cent), non-alcoholic beverages (up 19.4 per cent), coffee and tea (up 16.8 per cent) and eggs (up 16.7 per cent).⁠ ⁠ While overall meat prices were up 5.2 per cent, the cost chicken rose 9.3 per cent, with Statistics Canada pointing to reduced global supply amid outbreaks of avian influenza.⁠ ⁠ The agency said food prices remain “broad-based,” having now outpaced growth in the rest of the CPI basket for 12 consecutive months.⁠ ⁠ In a report released in mid-November exploring the causes of food inflation, Statistics Canada pointed to the simultaneous impact of supply chain disruptions and severe weather events across the globe as pushing prices higher in Canada.⁠ ⁠ Click the link in the @GlobalNews bio to read more.⁠ ⁠ Image: Global News
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