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Although Statistics Canada’s September 2022 Consumer Price Index (released October 19) shows a slight decrease in inflation to 6.9% in September from 7% in August, lower gasoline prices were mostly responsible for the “deceleration”, according to the overview.
Food purchased from stores, furniture, passenger vehicles, and tuitions grew at a faster pace in September than in August.
September 2022 Inflation in BC
In BC, the CPI was 7.7% higher in September 2022 than in September 2021 and up 0.5% compared to August. BC’s rate of inflation was fourth in the country behind PEI (+8.4%), Manitoba (+8.1%), and Nova Scotia (+7.8%).
View the BCStats Consumer Price Index for September 2022 (PDF) for year-over-year changes.
While the year-over-year BC CPI increase (September 2022 vs September 2021) remains significant, September 2022 vs August 2022 did show decreases in some categories. Beer prices were down.
| Category | % CPI Change Sept/22 Compared to Sept/21 | % Change Sept/22 Compared to Aug/22 |
|---|---|---|
| Food from stores (groceries) | +10.3% | +0.7% |
| Meals from restaurants | +6.2% | -0.1% |
| Household furnishings | +11% | +1.5% |
| Recreation | +6.9% | -0.7% |
| Alcohol beverages in stores | +7.5% | -0.5% |
| Beer prices in stores | +10.5% | -2.4% |
| Liquor purchased from stores | +2.6% | +0.8% |
View the data in the above table in the BCStats monthly CPI data tables for September 2022 (PDF) to view both year-over-year changes and August-September 2022 changes (PDF).
Need Help Cutting Your BC Liquor Operation Costs? A Thrive Audit Can Help
If you’re looking for ways to reduce expenses and increase profits for your BC liquor operation, talk to the consultants at Thrive Liquor & Cannabis Advisors. We can conduct an operations audit to find ways you can reduce costs and operate more efficiently. We delve into data and make recommendations that give your liquor business the best chance at growth during these tough economic times – and any time!
