Food inflation is forecast to worsen in the year ahead.
According to the latest edition of Canada’s Food Price Report, the annual grocery bill of the average Canadian family of four will increase by $966 in 2022, climbing to a total of $14,767.
That would represent a 7% year-over-year increase and push food prices across the country to record levels.
The report suggests that Canadian grocery bills have risen 70% over the last decade. Researchers behind the report expect food retailers could see increased rates of theft, food programs may face higher demand, and climate change will continue to be felt in more urgent ways going forward.
According to the report, consumers saw much of this coming — pointing to a study earlier this year on inflation that found 86% of surveyed Canadians perceived food prices to be higher — with meat being the food category in which the highest proportion noticed a price increase.
Meat prices are expected to rise by another 2% next year. Dairy products are forecast to rise 8% in 2022.
