Food prices on the rise
Posted Mar 8, 2011 02:01:11 PM.
This article is more than 5 years old.
Get ready to fork over a little more cash to fill your dinner table. Economists say Canadian food prices will spike by the end of the year.
A family that spends about $400 a month on groceries could pay between five to seven per cent more. That works out to an extra $340 a year.
Economists say bad crops and an economic recovery have shot up the price of food ingredients. The price of wheat has doubled over the past year, and sugar has gone up by about 40 per cent.
Canada’s independent grocers say they will put off price increases as long as they can, but might offer fewer discounts and coupons in the meantime.
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