Which foods will cost more in 2016?

Bad news for those who eat food: prices will continue to climb in 2016.

This year’s Food Price Report from the University of Guelph’s Food Institute predicts an overall jump in cost between two and four per cent over the next 12 months.

See Full Article

Although the grocery store will get more expensive, before eating the cost of food inflation, check out these tips on how to still shop healthy as food prices climb. For example, substituting expensive nuts with cheaper seeds will provide a similar crunchy flavour for a fraction of the cost.

Consider searching for alternatives for some of the foods set to jump most dramatically in cost:

Food Chart 1

Meat, fruit and nuts top this year’s list, followed closely by vegetables. Compare this to last year when vegetables increased in price by more than 10 per cent:

Food Chart 2

The food institute had originally forecast a 0.3 to 2.4 per cent overall price increase for 2015. This range was modified to 0.7 to 3.0 per cent in February amid plummeting oil prices and a slumping Canadian dollar. After the revision, vegetables, fruits and nuts were expected to cost more than originally anticipated.

Even after the adjustment, each of these categories ended up rising significantly more than expected. Overall, food in December cost an average of 4.1 per cent more than it did in January of last year.

This pace of inflation for food is above Canada’s overall inflation, and has been since about 2009, according to the consumer price index.

Food Chart 3

The index – which tracks inflation by comparing the current cost of goods to past prices, using 100 as a baseline number for 2002 costs – shows food prices rising at roughly the same pace as all items up until mid-2008. Since then, food seems to have steadily increased at a faster rate than other goods in Canada.

The Food Institute also surveyed 504 Canadians about our changing habits in terms of beef consumption:

Food Chart 4



Advertisements

Latest Economic News

  • Bombardier workers to stage rally in Toronto over Boeing dispute, will walk out

    Economic CTV News
    TORONTO - The union representing Bombardier's production workers says employees at the company's aerospace plant in Toronto will walk out Wednesday -- a move meant to pressure Boeing to drop a trade complaint against Bombardier. Source
  • Ontario premier says 'supports' will ease transition to $15 minimum wage

    Economic CTV News
    WALTON, Ont. -- Ontario farmers and small businesses will receive support from the government as the province moves ahead with its plan to raise the minimum wage to $15 an hour, Premier Kathleen Wynne said Tuesday. Source
  • Liberals will offer measure to soften small business tax changes, source says

    Economic CBC News
    The Liberal government is set to offer a measure to Canadians affected by its proposed tax changes that would make the controversial reforms more palatable, CBC News has learned. "We are not just going to take, take, take," a senior government official, speaking on background, told CBC News. Source
  • Amazon returns giant cactus from Tucson

    Economic CTV News
    TUCSON, Ariz. -- Amazon has rejected the 21-foot (6.4-metre) Saguaro cactus that southern Arizona economic leaders planned to send as a gift to CEO Jeff Bezos, in a bid to attract the company's second headquarters. Source
  • Oilsands miner reports 123 birds killed in tailings pond incident

    Economic CTV News
    CALGARY - The Alberta Energy Regulator says it's responding to a report of bird fatalities at the soon-to-be-producing Fort Hills oilsands mine north of Fort McMurray. It says the mine has reported 123 waterfowl and songbirds have died or had to be euthanized. Source
  • Suncor investigating after more than 100 birds die at new oilsands mine

    Economic CTV News
    CALGARY -- Oilsands giant Suncor Energy says it is mystified by the discovery Sunday of dead and dying birds at a nearly complete northern Alberta mine that hasn't produced its first official barrel of oil yet. Source
  • Ford cutting North American production as demand slips

    Economic CBC News
    Ford Motor Co. said on Tuesday it plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models. The plants affected include three assembly plants in the United States and two in Mexico, the company said in a statement. Source
  • Ford cutting North American production as demand for new vehicles slips

    Economic CTV News
    DETROIT -- Ford Motor Co. is cutting production at five North American assembly plants through the rest of this year as U.S. demand for new vehicles slips due to lower gas prices. Ford plans a three-week shutdown at its Cuautitlan, Mexico, plant, which makes the Fiesta subcompact, and a two-week shutdown at its Hermosillo, Mexico, plant, which makes the Fusion and Lincoln MKZ sedans. Source
  • Kosher designation for medical pot products arrive in time for the High Holidays

    Economic CTV News
    GATINEAU, Que. -- A Quebec medical marijuana producer says its processed products have been certified as kosher, just in time for one of the High Holidays on the Jewish calendar. The Hydropothecary Corp. (TSXV:THCX) says the certification by Rabbi Levy Teitlebaum comes just in time for Rosh Hashanah, the Jewish new year, celebrated from Wednesday night to Friday night. Source
  • Alberta government defends craft brewery program in court

    Economic CTV News
    CALGARY -- The Alberta government argued for the constitutionality of its craft beer program in court today following legal challenges by out-of-province breweries. Toronto-based Steam Whistle Brewing and Saskatoon-based Great Western Brewing Co. say the system, which charges all small breweries $1.25 per litre sold but returns much of that to Alberta producers in the form of a grant, effectively provides an unconstitutional trade barrier. Source