The price of groceries rose 11 per cent year over year, a drop from the 41-year high of 11.4 per cent seen in September. That’s the 11th straight month grocery inflation has been higher than the overall “headline” number.
Gasoline prices rose 17.8 per cent compared to a year ago.
Wages continued to grow at a slower rate than inflation, rising 5.6 per cent in the last year.
Think house prices are too high? The rental market is even worse — with no relief in sight
According to data from rental accommodation website Rentals.ca and analyzed by data firm Urbanation, the average rent in October across Canada was $1,976. That’s an increase of 11.9 per cent, well ahead of Canada’s inflation rate of 6.9 per cent.
The increases aren’t even across the country, either, as Atlantic Canada has seen rents rise at the eye-watering pace of 32.2 per cent in the past year. Ontario, British Columbia and Alberta have seen increases of 17.7 per cent, 15.1 per cent and 13.2 per cent, respectively.
