This Newfoundland auto dealer offered zero per cent financing for up to 84 months on select models in early 2019. "However, if you go to the meat counter or if you go to the fish, the rate is not that high," explained Charlebois.ĭespite the jump in veggie costs, meat prices only went up 1.85 per cent in the past year. "It's the era of vegetables since the beginning of 2019," said Sylvain Charlebois, a professor of food distribution at Dalhousie University. Sylvain Charlesbois, Dalhousie University professor It's the era of vegetables since the beginning of 2019. Vegetable prices went up more than 15 per cent in the past year. However, different items within the category can balance each other out - for example, vegetables versus meat. The cost of eating is something Canadians notice every day. It's been fairly successful at keeping inflation steady over the past couple of decades.īut as evidenced by our politics - and by a CBC poll earlier this summer - people aren't feeling that's the case. This in turn affects what financial institutions charge you to borrow money from them. The central bank's main tool to do this is by setting its target interest rate, which influences what banks charge each other to borrow money amongst themselves. The Bank of Canada uses the CPI to determine whether it's been successful at controlling the inflation rate. A woman walks past an addition to the Bank of Canada building in Ottawa on May 31.
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