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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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5 Things to Know Today: Key Money Headlines for Canadians



1. Spring Economic Update Lands Today

Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability.

2. Fuel Excise Tax Temporarily Suspended

Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel, offering short‑term relief as energy prices remain elevated due to geopolitical tensions. 

3. Canada’s First Sovereign Wealth Fund Announced

Carney has unveiled the Canada Strong Fund, the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector. 

4. CPP & OAS Payments Arrive Today

New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments. 

5. Global Instability Continues to Pressure Energy Markets

The federal update comes as global energy supply remains strained, with the U.S.–Israel conflict with Iran disrupting oil flows through the Strait of Hormuz — a key factor behind rising fuel costs. 


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