According to the University of Guelph’s Food Institute, Canadian consumers will be paying as much as 2.4 per cent more for their groceries in 2015.
According to the Food Price Report 2015, meat, seafood and vegetables will all see a price increase of between three and five per cent. The price of fruit and nuts will increase by between one and three per cent, while the cost of grains will either stay the same, or increase by up to two per cent. Dairy and eggs are the only category that may experience a price decline of up to one per cent.
According to the report, factors that may lead to the increase in food prices include weather, input costs, energy costs and the food retail and distribution landscape, among others. According to the study, the Canadian dollar may also be to blame.
“The depreciating dollar makes purchase of inputs more expensive, so goods with imported inputs will be less competitive. Dollar depreciation on the Canadian food industry will require working with governments to sustain favourable environments for not only affordable food production, but also supporting Canadian consumers to eat local,” stated the study.
