![]() ![]() “A year or 18 months ago, certainly there was more supplier power in terms of pricing, but now things are starting to stabilize in terms of wait times, in terms of supply chain disruptions. “What I’m seeing is a shift in power between the suppliers and the buyers,” he said. “We expect the food inflation rate to continue to drop as we head into spring and early summer,” he said.įraser Johnson, a professor of operations management at Ivey Business School, said he expects a “steady progression to more normalized price increases” by the end of the calendar year. Still, the overall pace of food price increases eased in February and is expected to abate further in the coming months, Charlebois said. Sugar and syrup prices rose 15 per cent, cereal was up 14.8 per cent and eggs increased 13.6 per cent. Pasta prices rose 23.1 per cent last month compared with a year earlier, flour jumped 22.9 per cent and butter increased 19.7 per cent, according to Statistics Canada.įats and oils also climbed significantly higher than the food basket average, up 18.8 per cent year over year. ![]() In the month of February, multiple pantry staples increased by nearly double the overall inflation rate for food purchased from stores. “Consumers may still feel sticker shock at the grocery store because the products they buy are up closer to 15 or 20 per cent,” said Sylvain Charlebois, director of the Agri-Food Analytics Lab at Dalhousie University. Instead, it means prices are rising less quickly, signalling the worst of the grocery price hikes could be behind us. Yet a falling food inflation rate doesn’t mean the price of food is coming down. ![]() Statistics Canada said Tuesday the cost of groceries in February rose 10.6 per cent compared with a year before, down from an 11.4 per cent year-over-year increase in January. Food inflation appears to be easing in Canada, but experts say shoppers shouldn’t expect lower prices at the grocery store. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |