Rising Grocery Costs in Canada
Trends, Predications & What this means for you!
By now we’ve all seen the headlines, food prices in Canada are rising and at an unprecedented rate. The 12th edition of Canada’s Food Price Report, published annually by Dalhousie University and the University of Guelph (linked below) attributes these costs to a number of factors; COVID-19, climate change, and labour challenges, to name a few.
Data from 2021 revealed the highest increase in food supply costs ever, ranging from 3% to 5%. The total annual grocery costs for a family of four was $13,801 (that’s $1,150 / month). Predictions for 2022 are even higher, with increases estimated to be as high as 8%. For the same demographic and family of 4, its expected annual grocery costs will rise by $966, totalling $14,767 (that’s $1,230 / month).
2022 Food Price Report, 12th Edition
Rising grocery costs combined with high unemployment rates (averaging at 6% vs 5.7% pre pandemic) means that food insecurity will remain a high concern for a lot of Canadians. At Savin Groceries we firmly believe that groceries should be affordable and available to all Canadians. Now more than ever Canadians need to look for ways to save money. And while we cannot influence the market (yet) we can help Canadians afford staple items. Use of coupons, price matching, and cashback offers are just a few of many tools that can help! Remember to buy what you need, stock up on frequently purchased items when you can, and to utilize our app when shopping. And for those that can afford it, donate items when you can and support your community.
