Statistics Canada this week detailed new food inflation figures documenting a dramatic rise in basic groceries from pre-pandemic levels. Data were based on actual checkout prices nationwide, according to Blacklock's Reporter..Figures confirmed price rises for the cheapest goods like potatoes, apples, white bread and spaghetti surpassed the national inflation rate. The latest Monthly Average Retail Prices For Selected Products followed a federal report showing more than a third of Canadians borrowed to meet daily expenses. Price increases for the period from January 2020 to January 2023 included:.• 11% more for hamburger from $9.56 per kilo to $10.64;• 14% more for chicken drumsticks from $5.93 per kilo to $6.76;• 19% for potatoes from $3.85 per kilo to $4.59;• 20% more for coffee from $5.32 per 340 grams to $6.40;• 20% more for salmon fillets from $24.10 per kilo to $28.93;• 20% more for cream from $3.71 per litre to $4.47;• 21% more for pork loin from $7.95 per kilo to $9.65;• 22% more for bacon from $5.79 per 500 grams to $7.04;• 23 % more for chicken thighs from $9.86 per kilo to $12.10;• 25% more for milk from $2.51 per litre to $2.89;• 25% more for apples from $4.28 per kilo to $5.36;• 25% more for white bread from $2.93 per loaf to $3.65;• 26% more for stewing beef from $13.91 per kilo to $17.52;• 27% more for eggs from $3.45 per dozen to $4.38;• 31% more for onions from $4 per kilo to $5.24;• 32% more for canned beans from $1.19 per can to $1.57;• 35% more for iceberg lettuce from $2.54 per head to $3.42;• 41% more for butter from $4.15 per 454 grams to $5.87;• 54% more for spaghetti from $2.35 per 500 grams to $3.63..“In the current economic context many Canadians are facing the biggest financial challenges of their lives,” the federal Financial Consumer Agency of Canada wrote in a February 13 report. “More are borrowing money to cover their day to day expenses including by using high-cost loans.”.The report Consumer Vulnerability: Evidence From The Monthly COVID-19 Financial Well-Being Survey said 41 % of Canadians had no emergency funds to cover unexpected expenses like car repairs. A total of 38% “borrowed money to cover daily expenses,” said the report..Almost a third of Canadians surveyed, 31%, said they were “short of money at the end of the month," while 5% said they resorted to payday loans at high interest charges.
