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Why Your Grocery Bill Keeps Rising — And What You Can Do About It

  It's not just gas. Canada's food inflation hit its highest pace in over a year in May 2026 — and produce prices are leading the charge. MoneySavings.ca  |  June 27, 2026 If your grocery receipts have been giving you sticker shock lately, you're not imagining things. Canada's official inflation figures, released by Statistics Canada on June 22, confirm that food prices are climbing faster than the overall cost of living — and have been for 16 consecutive months . If you're trying to figure out why your weekly shop costs so much more than it did a year ago, here's a plain-English breakdown — and some practical steps you can take to soften the blow. By the Numbers — May 2026 (Statistics Canada) Overall CPI: +3.2% year over year (highest since December 2023) Grocery prices (food purchased from stores): +4.3% year over year Fresh vegetables: +9.0% year over year Fresh fruit: +5.3% year over year Tomatoes: +45.2% year over year Lettuce: +10.7% year over year G...
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Top Savings and GIC Rates in Canada This Week

                                                             


Canadians looking to maximize their returns on safe investments have strong options this week, with both high-interest savings accounts (HISAs) and guaranteed investment certificates (GICs) offering competitive rates.

High-Interest Savings Accounts

  • KOHO Earn Interest Account continues to lead with an impressive 3.5% interest rate, offering unlimited transactions and cashback perks.
  • Other online banks and credit unions are hovering around 3.0%–3.25%, making HISAs a flexible choice for those who want liquidity while still earning meaningful returns.

Guaranteed Investment Certificates (GICs)

  • For short-term savers, MCAN Wealth is offering 3.65% on a 1-year GIC, one of the highest rates available.
  • Longer-term investors can lock in 3.95% for a 5-year GIC with MCAN Wealth, while EQ Bank provides 3.45% on a 5-year term, balancing security with steady growth.
  • Credit unions such as WFCU are also competitive, with 3.30% on a 1-year GIC.

Takeaway

For Canadians weighing their options, HISAs provide flexibility and liquidity at rates above 3%, while GICs offer guaranteed returns up to nearly 4% for longer commitments. The choice depends on whether you value access to your funds or prefer locking in for higher yields.


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