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- Canada imports a lot of food, especially during the winter when much less is produced domestically. High levels of imported food mean that exchange rates—particularly for the US dollar—affect grocery prices here. When the value of the Canadian dollar is lower against the US dollar, it takes more Canadian dollars to buy food from American farmers.
www.bankofcanada.ca/2024/07/what-drives-up-the-price-of-groceries/
Economists say there are a number of factors driving up food prices in Canada, which were up 9.1 per cent year-over-year in June. But they expect food inflation to slow over time.
The question on every Canadian’s mind lately: Why are grocery prices still so high? Granted, the price growth for food is finally starting to moderate, coming in at 2.7%% year-over-year in...
The Bank of Canada closely monitors grocery prices, which are included in Statistics Canada’s measure of annual inflation: the consumer price index. Many factors affect grocery prices, including the cost of energy, labour and transportation, as well as exchange rates and the size of a harvest.
May 27, 2024 · Nearly everyone is feeling the pinch, and it’s not just an inconvenience — high food prices are a major threat to food security for many Canadians. Understanding why food prices are so high and why they are changing is critical to the well-being of our society.
Dec 7, 2023 · Major Canadian grocers, such as Loblaw, have been under pressure to stabilize Canadian food prices. The federal government has called on them to provide detailed plans to address rising food...
Nov 16, 2022 · In September 2022, yearly price increases for food purchased in stores (11.4%) rose at the fastest pace since 1981, remaining elevated in October (+11.0%). Food prices have risen due to multiple factors that have put upward pressure on costs along the food supply chain.
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Oct 3, 2024 · The hard truth, however, and one keenly felt by many Canadian households, is that slowing inflation doesn’t translate into lower prices for prime rib and other food products, such as olive oil and infant formula, that have significantly jumped during the past five years.
