Food prices set to rise another 5-7% in 2023: report

December 4, 2022: It is forecasted that food prices in Canada will climb by five to seven percent in 2023 after a record year of inflation. After a year that saw food prices climb by numbers not seen in decades due to record inflation, the cost of groceries in Canada is expected to continue rising in 2023, a new report suggests.
The latest Canada Food Price Report released Monday estimates food prices will increase by another five to seven percent next year, adding hundreds of dollars to the average family’s annual expenses.
“Living is expensive, and we are not bringing good news,” Samantha Taylor, a senior instructor of accountancy at Dalhousie University and one of the researchers behind the report, acknowledged in an interview with Global News.