Whether you shop for groceries on a weekly or monthly basis, you might have noticed a price increase in some of your go-to items during your last visit. Unfortunately, your eyes aren’t deceiving you. It looks like a price increase in certain foods is here to stay — at least for now.
According to a Statistics Canada report released last week, ongoing supply chain disruptions continue in the wake of the pandemic affecting prices on everything from gas to common household goods. With the consumer price index up 4.4. per cent in September, food prices are now being directly affected.
The overall cost of food rose 3.9 per cent year-over-year compared to 2.7 per cent in August, Stats Canada reports. So what does it mean for consumers looking to stock up on their favourite foods? According to experts cited in a recent Global News article, it’s been suggested that the earliest we’ll start to see a return to normalcy on food costs is the second half of 2022. “So until then, you could still see price gains come through as a result of supply issues,” senior economist at TD Bank Sri Thanabalasingam told Global News.
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These food categories saw price gains in September 2021
- Pork — up 9.5 per cent
- Seafood — up 6.2 per cent
- Fresh or frozen chicken — up 10.3 per cent
- Butter — up 6.3 per cent
- Cheese — up 4.6 per cent
- Eggs — up 5.4 per cent
- Edible fats and oils — up by 18.5 per cent
- Bacon — up by 20 per cent
However, since Canada is a global producer of food, the national industry isn’t necessarily as hard hit as some other countries.
Based on a report released on Sept. 29 by Dalhousie University’s Agri-Food Analytics Lab, 86 per cent of Canadians surveyed believe food prices are higher now than they were six months ago. As a result, two in five said they’ve adjusted their buying behaviours during grocery visits.
During future shopping excursions, consider making a grocery list and sticking to it, scoping out sales and avoid shopping when you’re hungry to avoid overspending.
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