An average family of four can expect to spend more than $300 per week on food this year, according to Sylvain Charlebois, director of the Agri-Food Analytics Lab and a professor in food distribution and policy at Dalhousie University. The estimates for 2023 food costs are detailed in the newest issue of Canada’s Food Price…
Food Costs for the Average Family of 4 Will Exceed $300 Weekly in 2023: Report
January 4, 2023
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Canada’s Inflation Rate Drops Slightly in September Even as Food Costs Climb
Canada’s annual inflation rate dropped slightly to 6.9 percent in September but the cost of groceries continues to climb. In its latest consumer price index report, Statistics Canada said the slight deceleration from 7.0 percent inflation in August is mostly attributed to lower gas prices, which fell by 7.4 percent in September. In a note,…
Biden Official Says Efforts to Fight Inflation Are ‘Working’ Even As Core Inflation Jumps to 40-Year High
October 14, 2022
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Business & Marketsconsumer price index (CPI)economyExecutive Branchfood inflationGina Raimondohigh inflationinflationpersonal financePoliticsUSUS economy
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U.S. Commerce Secretary Gina Raimondo is insisting that the Biden administration’s efforts to curb rising prices are working despite the fact that core inflation in the country has jumped to its highest level in four decades. Though inflation is “higher than we would like it to be,” the good news is that housing costs and…
Supermarkets Limiting Discounts Amid Soaring Food Inflation
October 3, 2022
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While food prices remain elevated and customers look for cheaper deals, supermarkets have begun to limit the discounts they provide and are running fewer promotions. In the third quarter, food and beverage products were sold with a 20.6 percent price reduction on average, which is less than the 25.7 percent discount during 2019, a Wall…
Americans Feeling the Bite of Food Inflation as Prices Soar to Highest Level in 43 Years
October 1, 2022
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Food inflation in the United States has jumped to its highest level in over four decades, putting more stress on American consumers, while agricultural output in the country took a beating following droughts. “From the same month one year ago, the PCE [Personal Consumption Expenditures] price index for August increased 6.2 percent. Prices for goods…
Despite Robust Output in 2022, Beef Prices Expected to Rise in Coming Years
Consumers can expect to pay more for beef at the supermarket, as prices are expected to increase heading into 2023 amid rising feed costs and intensifying drought conditions in key producing areas, which are resulting in tighter supplies. In August, beef and veal prices climbed 2.5 percent year over year, according to the Bureau of…
Political Bias Affects How Americans Feel About Food Inflation: Study
Inflation is hitting hard at the grocery store and crushing the budgets of millions, yet not everyone is complaining about rising prices to the same degree. A new study revealed that the way Americans feel about food inflation depends on their political views. A survey by Purdue University’s Center for Food Demand Analysis and Sustainability discovered…
Core Inflation Soars, Retail Sales Weaken
Commentary For the first time in decades, central banks are tightening their monetary policy while governments are continuing to spend money as if nothing has changed. Large enterprises are not harmed by the most recent rate increases as long as credit conditions are still lax. However, households and small enterprises are bearing the full weight…
Americans Will Pay 17 Percent More for July 4 Cookout: Farm Bureau
U.S. consumers can expect to pay 17 percent more to eat on Independence Day in 2022, according to a new report from the American Farm Bureau Federation (AFBF). The annual study confirmed that the average cost of a summer cookout for 10 people would total $69.68, up $10 from 2021. The authors of the study…
UK Food Prices Could Soar by 15 Percent Over the Summer: Report
Prices of essential food items in the UK could rise by as much as 15 percent over the summer as food inflation is set to hit its highest level in more than 20 years, according to grocery analysts. In its latest report released on June 16, the Institute of Grocery Distribution (IGD) said that British…
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