Grocery Prices Keep Rising In Canada
Yes, grocery prices keep rising in Canada. According to experts, the two primary reasons are bad weather and supply chain issues. A new report from Dalhousie University Agri-Food Analytics Lab reports that staples like meat, dairy and groceries have increased in recent months due to macroeconomic shocks, caused by both unfavourable weather patterns in the Northern Hemisphere and logistical challenges due to the global pandemic.
The report shows that a total of 86% Canadians believe food prices are higher than 6 months ago, however, some generational differences are noteworthy. While 93% of Boomers
believe food prices are higher than 6 months ago, 89% of Gen Xers think the same. Fewer Millennials (79%) and Gen Zs (68%) believe food prices are much higher than 6 months ago. Based on these results, Boomers appear to have noticed rising food prices more so than other generations.
Higher prices change buying behavior. For example, a total of 49% of Canadians claim to have reduced their purchases of meat products in the last 6 months due to higher prices. CTV also reports that Canadians are using coupons more often and searching more for food at reduced prices.
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