Grocery inflation cools to 2.1% in the GTA, but renters aren't feeling relief
AI-generated image · Bay Street Wire
Statistics Canada's regional breakdown shows food prices easing for the third straight month — even as rent and utilities keep climbing faster than wages in the region.
Grocery prices across the Greater Toronto Area rose 2.1% year-over-year in June, the slowest pace since early 2024, according to new regional data. For a lot of households, though, that's cold comfort.
Rent in the GTA is still climbing at nearly double the rate of wages, and hydro bills are up sharply from a year ago as the province's rate freeze expired. Anti-poverty advocates say the grocery number, while welcome, obscures a budget that's still getting tighter for renters.
A city-commissioned affordability report is due out later this month and is expected to recommend expanding the municipal rent bank program.