University of Guelph releases 2016 Food Price Report
The average Canadian household paid an average of $325 more for food in 2015. Lower crude oil prices, lower interest rates and a Canadian dollar that dropped $.14 in 2015 are all key factors. Also, important to fruit and vegetable prices in Canada is the fact that 81% of fruit and vegetables consumed in Canada are imported. The University of Guelph’s report goes into detail on why prices rose and offers a forecast for 2016.