{"id":16502,"date":"2016-01-15T06:47:01","date_gmt":"2016-01-15T11:47:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16502"},"modified":"2016-01-15T06:48:08","modified_gmt":"2016-01-15T11:48:08","slug":"canadians-are-panicking-over-food-costs-after-currency-collapse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16502","title":{"rendered":"Canadians Are Panicking Over Food Costs After Currency Collapse"},"content":{"rendered":"

Canadians Are Panicking Over Food Costs After Currency Collapse<\/a><\/h3>\n

\"canadian<\/a>It\u2019s no secret that America has a serious inflation problem. Though the Federal Reserve insists that our inflation rate is only at around .5%, we\u2019ve all seen the price of food, rent, healthcare, and energy skyrocket over the past 10-20 years. However, this has been a gradual shift. Canada on the other hand, has just seen the price of every day goods rise precipitously over a very short period of time.<\/p>\n

The crash in oil prices has crippled their economic growth, and led to the decline of the Canadian dollar, as well as a predictable increase in the cost of imports like food. For those of us living in the US, this provides a really good example of what life may be like should the dollar take a plunge in the near future.\u00a0Here\u2019s what our northern neighbors have been dealing with<\/a>:<\/p>\n

It is often said that a free-floating currency acts as a shock absorber.<\/em><\/p>\n

But when Canadians go shopping for groceries these days, they\u2019re getting nothing but the shock\u2014sticker shock, that is.<\/em><\/p>\n

On Tuesday, the Canadian dollar, commonly known as the loonie, broke\u00a0below 70 U.S. cents<\/a>\u00a0for the first time since May 1, 2003.<\/em><\/p>\n

For America\u2019s northern neighbor, which imports about 80 percent of the fresh fruits and vegetables its citizens consume, this entails a sharp rise in prices for these goods. With lower-income households tending to spend a larger portion of income on food, this side effect of a soft currency brings\u00a0them the most acute stress.<\/em><\/p>\n

James Price, director of Capital Markets Products at Richardson GMP, recently joked<\/a>\u00a0during an interview on BloombergTV Canada that \u201cwe\u2019re going to be paying a buck a\u00a0banana<\/a>\u00a0pretty soon.\u201d<\/em><\/p><\/blockquote>\n

Canadians\u00a0took to twitter<\/a>\u00a0this week to share their collective horror over the rising cost of food. Cucumbers are $3 each. A head of cauliflower is $8.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadians Are Panicking Over Food Costs After Currency Collapse It\u2019s no secret that America has a serious inflation problem. Though the Federal Reserve insists that our inflation rate is only at around .5%, we\u2019ve all seen the price of food, rent, healthcare, and energy skyrocket over the past 10-20 years. However, this has been a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,1861,1036,319,11730,2520,426,11729,6787],"class_list":["post-16502","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-dollar","tag-currency-collapse","tag-food","tag-food-costs","tag-imports","tag-inflation","tag-joshua-krause","tag-ready-nutrition"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16502"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16502\/revisions"}],"predecessor-version":[{"id":16504,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16502\/revisions\/16504"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}