Canadian families expected to pay more for groceries in 2023

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Executive Summary:

  • Canadian families can expect to pay an additional $1,065 for groceries in 2023, according to a new report.
  • The report, which was released by Dalhousie University and the University of Guelph, found that prices for meat, vegetables, and fruits are expected to rise significantly.
  • The main drivers of the price increases are expected to be the ongoing trade tensions between Canada and the United States, as well as the effects of climate change on food production.

Canadian families can expect to pay an additional $1,065 for groceries in 2023, according to a new report. The report, which was released by Dalhousie University and the University of Guelph, found that prices for meat, vegetables, and fruits are expected to rise significantly.

The study, which is published annually, surveyed over 1,000 Canadians across the country and found that meat prices are expected to rise by 3.5%, while vegetable prices are expected to increase by 3.2% and fruit prices by 2.3%. This means that the average Canadian family can expect to pay an additional $345 for meat, $248 for vegetables, and $169 for fruits next year.

The main drivers of the price increases are expected to be the ongoing trade tensions between Canada and the United States, as well as the effects of climate change on food production. The report notes that the U.S. is Canada’s largest trading partner, and the ongoing disputes over issues such as tariffs and supply management have led to higher prices for some food products.

In addition, the report cites the impact of climate change on food production as a key factor in the expected price increases. The authors of the report note that extreme weather events such as droughts and floods have led to lower crop yields, which in turn has driven up prices for certain foods.

The authors of the report recommend that consumers take a number of steps to mitigate the effects of rising food prices. These include shopping around for the best deals, comparing prices at different stores, and using coupons and other discounts to save money. The authors also recommend that consumers consider buying locally-grown and produced food whenever possible, as this can help to support the local economy and reduce the environmental impact of food production.

Overall, the report paints a bleak picture for Canadian consumers, who can expect to pay significantly more for groceries in the coming year. While the reasons for the price increases are complex, it is clear that the ongoing trade tensions with the United States and the effects of climate change on food production are major contributing factors.

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