Canadian food prices are expected to jump between three and five percent next year according to a report from Dalhousie University which means the average Canadian family could see their food bills increase by as much as $420.
Fruits, nuts and veggies are expected to have a dramatic rise in prices in the coming year because of the high number of imported products and possible shortages in the supply chain because of the weather phenomenon La Nina. Pork prices could also rise in 2017 as well along with fish, seafood and cattle prices.
The increases in price will be in large part because of the expectation that the value of the Canadian dollar is going to drop next year and also points to the one year agenda from the adminisstration of U.S. president-elect Donald Trump as the other most influential factor.
The report does suggest that there will be regional differences in food prices, with Ontario and British Columbia expected to see an above average increase in the price of food. While New Brunswick, Quebec, Manitoba, Newfoundland and Labrador and Alberta will see below average increases.
