By now you’ve probably noticed that your grocery bill has been steadily increasing with each and every visit to your local market. Well, you can thank the ongoing supply chain disruptions that continue in the wake of the pandemic. Everything has been affected, from gas to common household goods, according to a recent Statistics Canada report. To make matters worse, it doesn’t look like the surging prices will be abating anytime soon.
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As Global News reports, food prices are expected to climb by between five and seven per cent in 2022. According to the news outlets breakdown based on the latest Canada’s Food Price Report, that would mean a nearly $1,000 annual increase in grocery bills for the average family of four.
We should even expect an increase in dollar amounts at restaurants, while it’s also projected that dairy, vegetable and bakery prices will result in the biggest hit to Canadians’ bank accounts. The silver lining (for carnivores, at least)? Meat prices are expected to moderate next year after seeing a surge in September and October.
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“[It will be] a tough year for people in the middle class and obviously families with less means as well,” Sylvain Charlebois, lead author and director of the Agri-Food Analytics Lab at Dalhousie University, told Global News.
So what exactly are the factors at play here? According to reports, high energy prices, ongoing supply chain holdups and labour shortages have all resulted in steep price increases for a variety of in-demand products.
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.
As if the pandemic wasn’t hard enough, it now looks like Canadians will have to crunch numbers and be more conscious of spending habits, especially during those essential trips to the grocery store. Our suggestion? Make a strict must-have essentials list for each visit — and stick to it.
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