B.C. families could spend nearly $1,000 more on food in 2022

A new report suggests the average Canadian family of four will pay an extra $966 for food in 2022. The increased cost is being blamed on soaring food costs due to several factors.

Janet Music is the research program coordinator with the Agri-Food Analytics Lab at Dalhousie University and is among the authors of the Canada’s Food Price Report 2022.

She says nationally. the cost of food is expected to go up five to seven per cent, with B.C. among the provinces set to see food on the higher end of that.

Dairy prices and restaurant menus will see the biggest rise, both are expected to see price increases of six to eight per cent.

“It’s going to affect a lot of families, especially those that are already on the margins, already suffering from food insecurity or at a risk of suffering from food insecurity,” she said.

Adding that food prices really start with the farming season which was heavily impacted by severe weather events from heatwaves, wildfires, flooding, and drought.

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“It has been a difficult growing season for many people. In Canada we had a lot of drought across the prairies which really affected a lot of commodities that not only that we ship but that we also use to feed other food, like cattle and pigs etc.”

“Grains that have been affected by drought, the supply is shrinking because of it, that’s really going to raise prices across the board,” she said.

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And the report doesn’t even take into account the recent flooding in southern B.C. which saw devastating impacts on the farming communities in Abbotsford’s Sumas Prairie, and the community of Yarrow in Chilliwack.

“It’s unpredictable on how much impact this will have on food prices in the west especially,” she adds.

The report says bakery products and vegetable costs could rise by up to seven per cent.

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With continuing impacts on supply chain disruptions, labour market challenges, and the pandemic – food prices saw a four per cent bump last month alone.

Statistics Canada said the annual pace of inflation hit 4.7 per cent in October the largest year-over-year gain in the consumer price index since February 2003.

The central bank has warned that inflation readings are likely to stay higher for longer, and the annual rate could get close to five per cent by the end of the year.

With food prices already high, and have been for some time, another jump could lead many more families to depend on food banks to help.

Read More: A Virtual Fundraiser For The Greater Vancouver Food Bank Society

As for ways to save money, the report suggests to seek lower price alternatives such as frozen vegetables, and avoid online grocery platforms where consumers pay up to eight per cent more for items.

Canada’s Food Price Report is an annual cross-country collaboration, jointly released by long-time research partners Dalhousie University and the University of Guelph, as well as the University of Saskatchewan and the University of British Columbia. The research team uses historical data sources, machine learning algorithms, and predictive analytics tools developed over many years to make predictions about food prices in Canada.