This year has already seen jumps in EI and CPP and other taxes across the country, but prepare to have even less money in your pockets as food prices are set to rise this year.
A University of Guelph study predicted price increase for various foods:
- Beef: 6 to 8 per cent due to rising grain prices for cattle feed
- Pork: 8 to 10 per cent due to rising grain prices for cattle feed and higher production costs in the pork industry (remember the story last year on the bacon shortage)
- Other meats: 4.5 to 6.5 per cent
- Fish & Seafood: 1-3 per cent
- Dairy: 1-3 per cent
- Eggs: 3.5 to 5 per cent, due mostly to increases in animal welfare-based technology;
- Grain: 1.4 to 2.7 per cent; and
- Fresh vegetables, fruit and nuts, fish and seafood, and vegetables: 1 to 3 per cent.
As food prices rise, so will the demand on the foodbanks and other services – remember them in your donations this year.