Did you know that the average price of food in global markets has fallen by 14.5 per cent in the last year as wholesale prices fell for oil, grains and other food products, according to the UN FAO Food Price Index?
Do you know that the cost of food will increase by up to five per cent in Canada in 2017?
According to a Canada’s Food Price Report 2017, released by Dalhousie University That means an average Canadian family of four will spend around $420 more on food in the coming year. Some of our staples, like meats, vegetables and seafood will have the greatest hike: up to six per cent. There’s a few reasons to account for the increase. While one might expect inflation to be a huge driver for prices, the report says the effect it has is minimal. Rather, the report suggests climate and trade policies are the main factors that bring up the cost of groceries. I would also like to add that the low Canadian dollar is not helping the consumer either. it is a fact that virtually all imported goods, including food products, are paid for in U.S. Dollars. The reverse is also a fact, Canada growers and food producers are encouraged to export their goods as they will be paid in U.S. Dollars. Just take a look at how little "Product of Canada" is on your grocers shelves.
Since 2014 the average Canadian family of four has seen their annual food bill increase by over $325.00 per year. In November 2015 Loblaw Companies Ltd. says it earned $166-million in its latest quarter, up nearly 17 per cent from a year ago. They have continued to steadly post increases in profits quarter over quarter. Now the population of Canada has not increased significantly since 2014 so if sales are to the same base then only one thing will account for the increases ; higher consumer prices for same goods.
For those living in Provinces with new "carbon taxes" you can expect this to impact your cost of food even more as the extra costs to shippers, warehousing and retailers is passed on to the consumers.
I am a concerned Canadian that is fed up seeing companies and people leave Canada due to the high cost of doing business and living.