Toronto – December 11, 2019 – According to Canada’s Food Price Report 2020, the average family in Canada will spend about $487 more on food in 2020 than in 2019 because of rising food prices. The annual report was produced by researchers at Dalhousie University and the University of Guelph. Below is a breakdown of the report’s findings.
- Overall food prices are expected to rise by 2 to 4 percent in 2020, about on par with the increases seen last year.
- The average family in Canada is expected to spend $12,667 on food in 2020; up $487 from 2019.
- The cost of meat will see the greatest increase among all food categories, with meat prices expected to rise by 4 to 6 percent compared to 2019.
- Maintaining a healthy diet will also cost more in 2020, as fruit products are projected to rise 1.5 to 3.5 percent, while vegetables will cost 2 to 4 percent more next year.
- Cake, pastry, and cookie lovers should be happy, as bakery prices are expected to remain flat, though could potentially rise as much as 2 percent.
- Eating out, meanwhile, will cost the average family 2 to 4 percent more in 2020.
- Climate change will continue to put upward pressure on food prices globally, with Canadian farmers being particularly vulnerable to unpredictable crop yields, heat-wave livestock threats, pasture availability, and pest and disease outbreaks.
- Rising populism, political instability, a global growth slowdown, and trade tensions between Western countries and China are expected to place additional pressures on food prices going forward.
Source: Canada’s Food Price Report 2020