Expect to pay more for groceries as inflation leads to a spike in food costs
Posted August 18, 2021 7:07 am.
Last Updated August 18, 2021 8:22 am.
HALIFAX – You may have noticed your grocery bill slowly increasing, netting you less bang for your buck.
A food policy expert says the average family of four can expect to pay around $800 more a year for food.
Professor Sylvain Charlebois, with the Agri Food Analytics Lab at Dalhousie University in Halifax, says food prices will continue to rise through the fall and into winter.
You may have noticed paying more in grocery stores, inflation is causing higher prices & there's no relief in sight. @FoodProfessor says avg. family of 4 can expect to pay $800/yr more for groceries. He believes prices will keep going up thru fall & winter. #yyc #Alberta #Canada pic.twitter.com/V8Dfez0iiY
— Saif Kaisar (@StaySaif) August 18, 2021
“When it comes to food inflation or inflation in general, things aren’t looking great for the fall or winter,” Charlebois explained.
“We’re seeing a lot of pressure points that could make everything in our economy more expensive.”
RELATED: Canada’s inflation rate was up in July
Charlebois believes inflation, in particular that around food prices, should become an issue in the federal election.
“It’s not two-three per cent, it’s like seven-eight per cent. That’s a lot,” Charlebois said.
“That’s probably over $800 of groceries that you have to pay more a year for a family of four. So, it adds up.”
Stats Canada CPI food price component….
-Food prices up 1.7% y/y
-Restaurant prices up 3.1%
-meat up 3.1%
-dairy up 3.5%
-vegetables down 7.5%— Mike Eppel (@eppman) August 18, 2021
Charlebois noted unpredictability as a major factor of price inflation, saying the climate crisis hasn’t been helping that front.
He points out last week there was an issue with coffee and this week it’s wheat.
“Wheat is just one example, it’s almost at $8 a bushel, the historic high is $9 a bushel,” Charlebois added.
“Processors, breadmakers, everyone who buys flour will have to pay more and eventually it will actually affect us.”
Charlebois pointed out peanut butter, which has been priced the same for 21 years now, actually saw a price increase of eight per cent this year.
-with files from Halifax 95.7
