According to food experts the food inflation rate in Canada is around 5% and Canadians are finding it more expensive to afford the food that they need. There are a variety of household items that are getting more expensive on the shelves. One of the categories that is seeing the highest increase in price is the meat products.
Bacon, meat, steak, are some of the items that have increased the most on the shelves in Canada. This means that more families and individuals will be opting out of buying that meat and going for something else.
One report from Dalhousie University’s Agri-Food Analytics Lab found that 2 in 5 people have changed their habits already to try and save money because of these food prices that are rising in Canada. It has been especially hard for those who are on low income or fixed incomes. They are increasingly looking for sales and ways to make their dollars reach further for them to tackle the increase in prices.
Meat is where most are seeing the prices rise.
Meat isn’t the only area though as vegetables are also getting more expensive, as well as fruit, fish and other seafood, bakery items, and more.
Bacon prices are reaching all time highs as more food experts warn about food inflation in Canada and the rising cost of groceries. There are already multiple cities in Canada that are some of the most expensive areas to live in the world, in terms of housing and other costs, and the increase in food prices isn’t helping.
Not only are Canadians seeing the prices go up but they are also experiencing shrinkflation which is getting less of the product but still paying the same amount. This is an option that food makers have gone with to try not to scare away customers and prevent themselves from increasing prices, to opt for the shrinkflation route and decrease the product amount in the package.
Pain from rising food prices in Canada
To save money Canadians have been turning to find deals, coupons, buying house brand items, and looking through flyers to try and find deals and food savings where possible. More are doing this now than they did a year ago and Canadians around the country still use coupons today, although they might not be as easy to come by for some. Every little bit that gets saved matters to those who are feeling the pain already from these rising prices.