Grocery Prices are Forecasted to Go Up this Year in Canada
A recent study by Dalhousie University is predicting that grocery prices will go up this year, with Canadians expecting to pay 3% to 5% more on items like fruits, nuts, vegetables, and meats. While that might not seem like a lot, small fluctuations can really add up, this one amounting to as much as $420 on average per Canadian family.
The Food and Price Report was led by Sylvain Charlebois, dean of the faculty of management at Dalhousie. Charlebois stated “It affects our quality of life. It’s top of mind for everyone every single day when we go out to buy food, whether at a restaurant or at a grocery store. And many Canadians struggle to cope with fluctuating food prices.”
This could be a hard blow for families and individuals with less means, especially since Charlesbois claims the price increases are inevitable. The falling Canadian dollar, La Nina weather patterns and incoming Trump administration from the US will all initiate the “commodity super-cycle.”
While it’s unfortunate news, not every food item will be subject to the increase. Dairy/eggs and bakery/cereal are expected to remain stable so on the bright side, you’ll still be able to purchase a nice block of aged cheddar for the same price. Guess we’ll be eating a lot of cheese and cereal over the next year.
How do you feel about the rising prices of groceries in Canada?
Feature image via Pexels
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