Dec 29, 2015
By Michael Kramer
If you think food is expensive now – just wait ’til 2016.
Executives from major food chains say there’s no relief in sight from the bigger costs they pay – and along with a weaker Canadian dollar – consumers will be dealing with more sticker shock in the coming year.
Since just over 80 per cent of the fruits and veggies we eat in Canada are imported – they’re highly vulnerable to currency fluctuations.
And prices are pegged to increase by up to 4.5 per cent next year.
The University of Guelph’s Food Institute estimates the average Canadian household spent an additional $325 on food in 2015.
On an upnote – The U.N. Food and Agriculture Organization has declared 2016 The Year of The Pulses – and Canada is one of the world’s biggest growers of them. Pulses include lentils, chickpeas and beans – a cheaper protein alternative which may be in bigger demand as grocery bills soar.