The 11th annual edition of Canada’s Food Price Report forecasts an overall food price increase of 3 to 5% for 2021. The most significant increases are predicted for meat at 4.5 to 6.5%, bakery at 3.5 to 5.5%, and vegetables at 4.5 to 6.5%.
The COVID-19 pandemic led to border and facility closures, shifting consumer demand and unemployment, as well as modifications in production, manufacturing, distribution and retailing practices to enhance safety — all of which impacted food prices. An oil price war and the devaluation of the Canadian dollar were also significant factors.
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