Canadian families will have to spend $1,065 for groceries in 2023

Ottawa: Canadians will still have to face more inflation in terms of food and drink. Food prices in Canada are expected to rise further this year. Food prices are expected to increase by another seven per cent in 2023. The total annual cost of the grocery for a family of four is expected to be $16,288. This will also be $1,065 more than this year. This was revealed in the 13th edition of Canada’s Food Price Report released on Monday.

According to a report by Statistics Canada, a 40-year-old single woman in Canada will have to pay $3,740 for groceries next year, while a single person of the same age will have to pay $4,168. Sylvian Charlebois, a professor of food distribution and policy at Dalhousie University and lead author of the report, said food prices are expected to remain higher in the early half of 2023.

Next year, food prices are likely to remain higher due to a number of factors such as climate change, geopolitical disputes, rise in energy prices and the impact of Covid-19. Food prices will also have an impact due to currency fluctuations. Vegetables like lettuce could become more expensive due to a weak Canadian dollar.