Price of Food on the Rise with Meat Leading the Way

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If you feel as though you’ve been spending more money at the grocery store you are absolutely right, according to the latest data from Statistics Canada.

According to Stats Can the price of food had steadily risen over the past year with the biggest price increase affecting meat. In the first five months of the year, prices for food increased 2.7 per cent compared to the same time in 2013 where prices increased only 1.2 per cent between January and May. The price of meat rose 7.5 per cent during that time compared to just 1.0 per cent in 2013.

Photo Credit: Statistics Canada

Higher prices for fresh and frozen beef led the increase in meat prices with consumers paying 10 per cent more for beef in the first five months of 2014. Prices for fresh or frozen pork advanced 12.2 per cent between January and May 2014, while chicken princes only slightly increased 0.5 per cent.

There was also an increase in the price of fruit and vegetables as consumers paid 5.3 per cent more for fresh vegetables and 5.6 per cent for fresh fruit compared to the same time in 2013. Other food categories did not increase as much as the price of grains, meat and produce.

For example, the price of non-alcoholic beverages increased 1.6 per cent between January and May, whereas in 2013 they rose 8.1 per cent over the same period.