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While the annualized inflation hit 2.4 per cent in Canada in June, food prices rose far more precipitously, with meat up 9.4 per cent and fresh vegetables up 9.5 per cent from a year ago.
While the annualized inflation hit 2.4 per cent in Canada in June, food prices rose far more precipitously, with meat up 9.4 per cent and fresh vegetables up 9.5 per cent from a year ago.
(J.P. MOCZULSKI FOR THE GLOBE AND MAIL)

Ouch: How inflation is outpacing wages

When market players look at inflation, they tend to ponder what it means for consumer spending and monetary policy.

Unions, on the other hand, look at how it hits your pocketbook. And on that score, it’s not looking good.

Annual inflation in Canada picked up in June to 2.4 per cent, according to the latest reading from Statistics Canada. Driven by higher food, shelter and transportation costs, that’s the fastest pace in 28 months, and up from May’s 2.3 per cent.