Canada’s Food Price Report 2021 brought some disconcerting news to Canadians. We could see food prices rise by as much as five per cent in 2021, according to the recently-released report.
That’s the highest increase ever predicted by the report’s authors, a group of 24 scholars from four universities. For a family of four, the food bill could go up by as much as $695 next year. That’s steep.
Meat, bakery goods and vegetables are likely to rise by up to six per cent, the report says.
Some will say there’s nothing wrong with food inflation, as long as income follows suit. That’s true but with a very low inflation rate in Canada, households face higher food bills with nothing more in their pockets.