Food inflation isn't going away anytime soon. The latest edition of Canada's Food Price Report predicts food prices will continue to rise in the new year, with expectations that it could be by as much as 7%.
For the average family of four, that means groceries will cost nearly $16,300, almost $1,100 more than last year. Dalhousie University professor and lead author Sylvain Charlebois says food inflation will remain stubbornly high in the first half of the year before it begins to ease.
“Our relationship with food is changing, and so will our food budgets. Showing up at the grocery store knowing what you should be paying will help.”
Food price increases in Alberta, British Columbia, Newfoundland and Labrador, Ontario, and Saskatchewan will likely be higher than the national average in 2022, while price increases in the remaining provinces will be lower.
Within the grocery store, vegetables are expected to see the biggest price hike. The U-S has been struggling with dry conditions and bacterial contaminations, and a weaker Canadian dollar could make importing goods more expensive.
The full report can be found here.
