Inflation is not easing according to Canada’s Food Price Report. Food prices will rise five to seven per cent in 2023, caused by supply chain disruptions, Russia’s invasion of Ukraine and climate change.  The 13th edition is published by Dalhousie University, the University of Guelph, the University of British Columbia and the University of Saskatchewan.

Last year’s report predicted an overall food price increase of five to seven per cent in 2022. The current rate for food price increases has exceeded that prediction, tracking at 10.3 per cent as of September 2022.

In 2023, it is expected that Canadian consumers will continue to feel the effects of inflation and food insecurity/affordability. Imported fruits and vegetables will cost more due to the weakening Canadian loonie and higher transportation costs.

Source: Canada’s Food Price Report December 5, 2022 news release