Food prices are expected to climb by five to seven per cent next year, meaning a Canadian family of four will pay $966 more for groceries than it did in 2021, according to the latest edition of Canada’s Food Price Index.
The annual report is prepared by the University of Guelph, Dalhousie University, the University of British Columbia and the University of Saskatchewan.
The ongoing effects of the pandemic on the food supply chain along with higher commodity prices are being blamed for the biggest forecasted increase, both in dollars and percent, in the report’s 12-year history.
“We are seeing a large increase and we’re seeing an increase across a number of particular food categories,” said Simon Somogyi, a University of Guelph professor and one of the report’s authors.
The price of dairy items is expected to climb six to eight per cent in 2022, while the cost of both vegetable and bakery items is anticipated to jump five to seven per cent.
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