Thursday, December 9, 2021

Food price increases predicted

Food prices are predicted to rise by five to seven per cent next year, according to research for Canada's Food Price Guide.

The same team predicted prices would rise by three to five per cent this year, but they actually fell slightly short of that prediction.


Four universities prepare the report: Dalhousie in Halifax, Guelph, Saskatchewan and British Columbia.


This year beef was the leader in pushing prices higher; it’s up by 10 per cent. But next year the researchers predict beef prices will decline by two per cent, as will seafood.


Everything else will be more expensive, led by dairy increasing by six to eight per cent, bakery items by five to seven per cent, vegetables by five to seven per cent and fruits by three to five per cent.


The report said supply chain problems caused by the COVID-19 pandemic continue to push costs and prices higher.


Heat and drought across Western Canada share in the reasons for price increases, such as wheat pushing bakery department prices higher.