Are we the only ones that walk into a grocery store and think: “When the hell did prices get so expensive?” And we’re not just talking about prices for off-season produce. We’re talking about everything from meat and fish to nuts and seeds.
Seriously, who can afford to splurge $10 on a small plastic tin of peanuts as it is?
And though we’d love to hear that food prices are finally going to drop, the universe has some other plans for our bank accounts. Brace yourselves: you’ll be spending an extra $420 on groceries in 2017. According to a new study out of Dalhousie University, we can expect to see the following next year:
- Meat, veggie and seafood prices will rise by four to six per cent
- Fruit and nut prices will rise by three to five per cent
- Dairy, eggs and cereal prices will rise by around two per cent
- Restaurant prices will rise by two to four per cent
And if you happen to live in Ontario and B.C., it gets even worse–the forecast predicts that food prices will be above average in the two areas.
“I think 2016 was volatile and 2017 will be, at the very least, equally as volatile,” said Sylvain Charlebois, the author of the report.
According to Charlebois, we can expect to see prices starting to rise in April because of two main factors: the low loonie value and Donald Trump. Not only is the value of the loonie expected to drop even more in the next year, but Trump could also choose to deport illegal U.S. farm workers. Fewer farm workers equals less product, which will inevitably lead to higher prices.
But don’t get upset just yet–this is only a prediction, after all. But it may be time to start buying in bulk… just to be on the safe side.
To learn more about rising grocery prices, check out the video above.