Food prices going up
Posted Mar 8, 2011 5:50 pm.
This article is more than 5 years old.
The grocery list of the near future may include more beans, wieners and chicken thighs.
Economists are warning by the end of the year Canadians will be paying 5 to 7 per cent more from groceries.
A family that spends about $400 a month on groceries will see that price rise by about $28.
“From your coffee store to your grocery store to your restaurant,” Michael Gregory, a senior economist at BMO, told 660News.
The cost of food will be creeping up slowing over the next year.
“Bad weather, bad crops in many parts of the world makes global markets extremely tight for food,” Gregory explained.
And on top of it all – the price of wheat has doubled over the past year, and sugar has gone up by about 40 per cent.
Even Tim Horton’s says it will eventually have to hit up customers for more cash. As will baked goods maker George Weston and meat processor Maple Leaf Foods.
Canada’s independent grocers say they will put off price increases as long as they can, but might offer fewer discounts and coupons in the meantime.
