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‘Worst is yet to come’: B.C. inflation hits 6.7% in April

B.C. no longer trailing national inflation by significant margin
grocery store that meets their family's needs
Meat, pasta, and coffee were among the products that saw the biggest price surges.

Inflation in B.C. was trailing the national average by a fair margin earlier in the year.

Not the case anymore.

Prices for consumer goods in B.C. were 6.7% higher in April compared with the same month one year earlier, according to data released Wednesday by Statistics Canada.

That’s up from 6% in March, when the national rate was also 6.7%.

The national average ticked up one point to 6.8% last month.

Gasoline (+36.3%) and food purchased in stores (+9.7%) saw some of the biggest leaps in costs, while rent in B.C. (+6.4%) experienced the biggest increase in the country.

"But this is the relative calm before another downpour in next month's report, as gasoline prices are tracking a double-digit increase for May alone," BMO chief economist Douglas Porter said in a note.

“Barring a deep dive in oil prices in coming weeks and months, we expect that the worst is yet to come on the headline readings and that inflation north of six per cent will still be with us by the end of this year.”

Meanwhile, meat (+10.1%), pasta (+19.6%), and coffee (+13.7%) were among the products that saw the biggest price surges.

"The cost of basic necessities continues to push higher in Canada, with food and shelter driving the price increases. We are not expecting much of a reprieve going forward, with food supplies likely remaining tight," TD economists James Orlando said in a note.

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