The Big Story A look at how much more you could be paying for food in 2025
Dec 10, 2024
Sylvain Charlebois, the lead author of the 2025 Canadian Food Price Report and head of the Agri-Food Analytics Lab at Dalhousie University, discusses the troubling rise in grocery costs expected for Canadian families. He reveals that food expenses could increase by $800 in 2025, driven by factors like meat prices and currency fluctuations. Charlebois also highlights the shift towards seafood and a potential decrease in dairy costs. The conversation unpacks the emotional toll on consumers and the impacts of climate change and government policies on food pricing.
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2025 Food Price Increase
- The 2025 Canadian Food Price Report forecasts a 3-5% increase in food costs for a family of four.
- This amounts to roughly $800 more than the previous year, totaling around $16,800.
Key Price Drivers
- Meat (beef, pork, and chicken) and vegetables are predicted to drive the price increases in 2025.
- Lower interest rates weaken the Canadian dollar, increasing the cost of imported vegetables.
Potential Savings
- Seafood and dairy are expected to remain relatively stable in price, offering potential savings.
- Consumers may find deals on dairy as grocers use them to attract customers.