Supply chain inefficiencies leading to 'shelflation' at Canadian grocery stores: researcher
Supply chain inefficiencies leading to 'shelflation' at Canadian grocery stores: researcher
Better protections and options for consumers are just some of the ways Ottawa can help address food unaffordability in Canada, the lead author behind a new price report says, as average grocery bills are expected to rise in the new year.
Sylvain Charlebois, a Dalhousie University professor and director of the school's Agri-Food Analytics Lab, spoke to CTV's Your Morning and CTV News Channel on Monday about Canada's Food Price Report for 2023, which predicts an upcoming increase in grocery costs between five and seven per cent.
A family of four can expect their annual grocery bill to rise $1,065 to $16,288 in 2023, building on months of price increases that haven't been seen in decades.
Prices should begin to level off in the latter half of 2023, Charlebois said, amid an expected economic downturn and grocers potentially offering more deals to consumers.
Along with the war in Ukraine, he said supply chain "inefficiencies" have also compromised the shelf life of certain products, a term referred to as "shelflation," which is estimated to have cost Canadians hundreds of millions of dollars in just half a year.
Canadians also may have noticed the price of lettuce spiked several weeks ago amid a shortage in California.
"The fact that there are breakdowns across the supply chain will actually offer consumers products that are not as fresh as they used to (be)," Charlebois said.
"So when you buy a product, you go home, it won't last as long and you're basically forced to throw away that product, which adds to your food bill, essentially."
Charlebois, along with executives from Loblaw and Empire Co., is taking part in the House of Commons Standing Committee on Agriculture and Agri-Food's study on food price inflation.
On top of strengthening Canada's Competition Bureau, Charlebois said the country needs more "supply chain discipline" and greater protections for independent grocers.
"We've seen a lot of stores close the last little while and we need more options for consumers. Those are the things that I would recommend to Ottawa right now," he said.
For now, his advice to consumers – if you see a product that is too expensive don't buy it, since prices change so rapidly.
"Give yourself a chance, give yourself some time and you'll save some money," Charlebois said.
With files from CTVNews.ca Writer Tara De Boer, CTVNews.ca Online Politics Producer Rachel Aiello and The Canadian Press
The Bank of Canada hiked its key interest rate by a quarter of a percentage point Wednesday, bringing it to 4.5 per cent. Here's a look at what the rate means, how analysts are interpreting it and what it could mean for consumers.
The federal government's latest TFSA contribution limit increase took effect as of January 1, 2023. Personal finance contributor Christopher Liew outlines how the government’s most recent TFSA contribution limit increase affects you and how to make the most of it.
Finding an affordable place to live in the territories, where housing has long been a challenge, is getting even harder, the Canada Mortgage and Housing Corporation suggested in a report released in December. In Yellowknife, the report said, the growing senior population, urbanization and strong labour market has pressured the housing supply.
Canada is suffering from a severe skills shortage in several key sectors, experts say, thanks to factors that include deficiencies in our education system as well as changing demographics. CTVNews.ca looks at some of the skills that will be most in-demand in 2023.
Bond portfolios took a beating in 2022 as interest rates climbed, but experts say investors shouldn't neglect bonds this year as the Bank of Canada nears the end of its rate hike cycle.
Canadian investors who made it through a tumultuous 2022 face further uncertainty in the year ahead amid increased recession risk. Investment professionals and personal finance experts say the easiest way to grow your money this year is to keep things simple.
In early 2020, 25.1 per cent of Canadians received $2,000 from the Canada Emergency Response Benefit, according to Statistics Canada. In his latest column on CTVNews.ca, personal finance contributor Christopher Liew explains how repayment works.
