Food prices increased by four per cent over the year, largely because of the low loonie
“Well, obviously the weak loonie has had an impact on produce and fruit prices,” said Sylvain Charlebois, professor of marketing and consumer studies at the University of Guelph Food Institute. “They’ve gone up significanty.”
- Beef prices begin sudden fall from record highs
- Higher food and gas prices push inflation to its highest level since 2014
- 7 foods that will cost you more in 2016 and why
According to the Consumer Price Index, released by Statistics Canada on Friday, food prices increased by four per cent in January 2016, compared to the same month a year earlier. But fresh vegetables were up 18 per cent over that period, while the price of tomatoes alone shot up 30 per cent from the previous month.
Lettuce was up nearly 18 per cent in January, compared to a year earlier, while other fresh vegetables, including broccoli, cauliflower, celery and peppers, registered their largest year-over-year increase since April 2009, rising 23 per cent over the previous year.
Fresh fruit was up nearly 13 per cent for the year, with apples rising 16.6 per cent and oranges 11.
‘Driven by the weakened currency’
“Clearly many importers had to procure some produce outside of North America and that really increases transportation costs,” Charlebois said. “Peppers — we’ve had to go to Europe to get some of those products — so that’s why some products have increased by more than 30 per cent in a month.”
…click on the above link to read the rest of the article…