Canadian families will pay $1,065 more for groceries in 2023: Report cdnpoli
Food prices in Canada will continue to escalate in the new year, with grocery costs forecast to rise up to seven per cent in 2023, new research predicts.As the Canadian national soccer teams head to their respective FIFA World Cups, Derek Van Diest is on the scene to cover all the action. Expect expert insights and analysis in your inbox daily throughout the tournaments, and weekly on Thursdays for the rest of the season.
Multiple factors could influence food prices next year, including climate change, geopolitical conflicts, rising energy costs and the lingering effects of COVID-19, the report said. In addition to currency risks, much of the produce sold in Canada comes from the United States, which has been struggling with extremely dry conditions.
The Canadian Dairy Commission has approved a farm gate milk price increase of about 2.2 per cent, or just under two cents per litre, for Feb. 1, 2023. The increasing reliance on food banks is expected to continue, with 20 per cent of Canadians reporting they will likely turn to community organizations in 2023 for help feeding their families, a survey included in the report found.
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