Industry News FreshSheet  - trending news in the restaurant and hospitality industry

Industry News FreshSheet
trending news in the restaurant and hospitality industry

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Food prices to strain wallets in 2020 due to climate change, geopolitics, reports study

Grocery costs are predicted to rise $487 in 2020 for the average family according to a new study.

Dec 12, 2019 - EightSix Staff

A recent study by the University of Guelph and the University of Dalhousie predicts grocery prices to rise across the board in 2020. Costs are expected to rise 4% overall, amounting to a $487 rise from 2019 to $12667 for the average family.

Most food items are expected to rise 2-4% in price, with certain items like meat products projected to rise further, by 4-6%.

Not all provinces will be affected equally, with higher prices expected in BC, Manitoba, PEI and Quebec.

“In 2020, the elephant in the room is climate change and its impact on our food prices”, the report states, assessing climate change, along with geopolitics and trade disputes, to be the drivers of food prices.

The food price hikes come at a time of stagnant wage growth, and will burden the four million Canadians who are currently food-insecure. The report advises the Canadian government to revise and implement policies to allow vulnerable Canadians access to food.

See the Canadian Food Price Report 2020 for more details.

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