You'll need to allocate more toward your booze budget as of April 1 higher alcohol taxes are brewing across the country. The annual price inflation of beer, wine and liquor will see rates rise by just over six percent. That's either a good reason to cut back on your consumption or find ways to imbibe for less.
Employers in Montreal are raising salaries more than anywhere else in Canada. A new study on compensation budgets across the country found that they're going up as a result of inflation. Most employers are now allocating at least 4% more on average for total budget increases in 2023, up from the 2.8% rise seen in 2022.
Statistics Canada's Consumer Price Index (CPI) for August 2022 shows inflation slowing down in Canada. But food prices are a notable exception. The CPI was up 7% overall in August 2022 compared to August 2021. That's down from 7.6% year-over-year price growth in July. Grocery prices, meanwhile, increased by a whopping 10.8% year-over-year, up from 9.9% in July.