Groceries were lighter on Canadians' wallets last month as food prices deflated for the first time in a LONG time.
Prices fell by 0.9 per cent last month, marking the first time they had since March 2008, Desjardins Capital Markets said in a report released Monday.
The drop was most evident in bakery products and vegetables, with each falling by 1.8 per cent.
Fruits, meanwhile, fell by 1.4 per cent. Eggs and dairy products dropped by 0.9 per cent.
Up until now, grocery prices avoided deflation due to the fall of the Canadian dollar. That price support appears to have run out, according to Desjardins.
Loblaws grocery store shopper in Toronto. (Photo: Steve Russell/Toronto Star via Getty Images)
Restaurant food, however, is another story.
The cost to dine out and take out has only continued to grow throughout the year, reaching inflation of 2.6 per cent last month.
Food price deflation should bring some relief to a country where people are having trouble affording groceries, no matter how much money they make.
An April poll by the Angus Reid Institute found that 57 per cent of people making less than $50,000 were finding it tough to afford food, while 54 per cent of those making over $100,000 said the same.
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