Image Credit: CFJC Today

By Adam Donnelly

CANADA'S FOOD PRICE REPORT

Report suggests food prices expected to rise in step with inflation in 2022

Dec 15, 2021 | 5:14 PM

KAMLOOPS — Last week, the 2022 edition of Canada’s Food Price Report was published.

The report is a collaboration between researchers from UBC, Dalhousie University, the University of Guelph, and the University of Saskatchewan.

Consumers can expect to see an increase in the cost of food in the coming year, the report predicts. However, that increase should be in line with the rate of inflation.

“The prices are going up, but they’re not in isolation, they’re with inflation,” Dr. Kelleen Wiseman, UBC team lead for the report, explains. “When [inflation] comes down, those sorts of things will likely come down. We don’t see anything in the system with supply and demand that makes us think there are going to be any significant changes, or shortages, or price changes.”

With inflation on the rise, it seems likely that the average Canadian family will spend more at the grocery store in 2022. However, Dr. Wiseman suggests Canadians will experience price increases in many aspects of their day-to-day lives.

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“I think they’ll feel the pinch along the way with gas, housing, rent, and food will be in line with that. I think that people will go into the grocery store and say, ‘things are about the same, but oh, that [price] is kind of higher.’ The good thing is – and it goes back to our food chain system and our food supply system – so if one thing is [priced] higher, there is that ability to switch to something else, like fresh to frozen.”

To read the full report, click here.