Annual food bill predicted to grow to almost $15 thousand dollars in 2022

By The Canadian Press

Food prices to rise 7 per cent in 2022

Dec 9, 2021 | 8:35 AM

HALIFAX – A new report says food prices in Canada are expected to rise to record highs next year.

Canada’s Food Price Report predicts the average family of four will pay an extra $966 for food in 2022, for a total annual grocery bill of nearly 15-thousand dollars.

That’s a seven per cent rise compared to this year, the biggest jump ever predicted by the report.

Sylvain Charlebois, lead author and Dalhousie University professor, says the era of cheap food has ended.

He says prices have been rising steadily since 2010 but the pandemic accelerated that trend.

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The report says key drivers pushing up food prices next year include supply chain disruptions, labour market issues and adverse weather events.

It says soaring food prices will contribute to rising food insecurity in Canada.

That could leave food banks struggling with higher costs just as demand for their services increases.

The report says the biggest price hikes will be in the dairy aisle and on restaurant menus, which are both expected to see price increases of six to eight per cent.

(The Canadian Press)