Monday, October 4, 2021

Meat prices breaking records

Bringing home the bacon is a lot more expensive these days.

In fact, Statistics Canada reports bacon prices broke a record in August at $8.24 for a 500-gram package.

The same is true in the United States where bacon prices are the highest in 40 years and 30 per cent higher than a year ago.

Statistics Canada also reported that A 450-gram pack of wieners was $4.96 on average in August, 13.5 per cent  higher than last year, yet less than $5.02 in February. Pork chops are only up by 4.07 per cent, which is less than the average of five per cent for all foods.

Sirloin steak is up by 12.63 per cent, round stake by 5.08 per cent and stewing beef by 8.78 per cent.

Chicken prices are also up by 7.11 per cent and egg prices have increased by 6.54 per cent.

Janet Music, who is the research program co-ordinator at Dalhousie University’s Agri-Food Analytics Lab, says across the board, grocery prices have increased around five per cent, which is significantly greater than the typical one to two per cent inflation rate.