Cold California weather in December bumped up Canadian food prices in January.
Statistics Canada recently said higher fresh fruit prices during the month were the main reason Canada’s January Consumer Price Index increased 0.2 percent. Still, the overall Canadian inflation rate during the 12 months was just 0.6 percent, one of the lowest rates in decades.
Driven mainly by fresh produce and restaurant meals, the yearly food inflation rate was 1.3 percent.
In January, Canada’s average food price was 11.1 percent higher than six years ago.
Federal economists reported last week overall farm input costs in Western Canada were stable last year, despite sharp increases in non-mortgage interest costs and modest increases in machinery replacement and labor. Non-mortgage interest rate costs increased 20.7 percent during 1998, according to figures published Feb. 18.
On average last year, overall farm input costs were 26.3 percent higher than they were in 1986.
