Wednesday, December 4, 2019

Food inflation warning for 2020

Food prices will go up by about four per cent next year, according to the 10th annual report prepared by researchers a Dalhousie University in Nova Scotia and the University of Guelph.

Lead author Sylvain Charlebois said during a CBC interview today that meat prices will rise the most because China is once again buying Canadian beef and piork.

It suspended purchasing Canadian meats in the fall because it found pork laced with ractopamine, a growth promotant banned in China, and then more than 170 fraudulent Canadian Food Inspection Agency export certificates.

The forecast is price increases are coming for dairy, meat, seafood, fruits, and veggies; only bakery items are exermpt.

Charlebois said Canadians can reduce restaurant meals and do more home cooking to keep food costs down.

While four per cent is one of the biggest annual increases since the survey began, it’s not much different from the 3.7 per cent increase Canadians experienced this October compared with a year earlier.