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Food prices set to rise another 5-7% in 2023 after record inflation year: report

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Food inflation was difficult to ignore in 2022, and Canadians can expect more of the same in 2023.

The research team behind Canada's 2023 Food Price Report predicts another hefty increase, forecasting price jumps of six to eight per cent for vegetables, five to seven per cent for meat, dairy and bakery items, as well as up to six per cent for seafood and restaurant meals.

Supply chain interruptions, higher fuel and shipping costs and the war in Ukraine have pushed up the cost of all kinds of food staples. Climate change impacting key crops and the Canadian loonie weakening against a strong U.S. dollar are also making food products more expensive to import.

Global’s Anne Gaviola has more on what you can expect, and tips on how to deal with even more sticker shock at grocery stores and restaurants in the new year.

For more info, please go to https://globalnews.ca/news/9321958/canada-food-price-report-2023/

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Category
U.S. & Canada
Tags
global news, food, food prices
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