Canada is dealing with a number of problems regarding gas prices, a dysfunctional supply chain, and lumber prices, but the topics of food prices and food shortages are living in the minds of Canadians day in and day out. Canada’s annual rate inflation reached record high numbers last month, with statistics Canada showing no sign of costs flattening due to the disruption in Canada’s supply chain. In August, consumer prices were up 4.1%, however by September, consumer prices reached 4.4%. Statistics Canada is estimating the consumer price of goods could reach 4.8% by the end of the year if the supply chain entering Canada isn’t taken care of.

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The cycle of panic buying to constant food shortages shows in the prices. Food prices rose 3.9% this year alone compared to what it was in August at 2.7%

Prices for dairy products, meat products, and grains rose significantly during the pandemic reaching all time highs in September. Fresh vegetables were the only food to reduce in price this year. Pork, fresh seafood, and chicken have all increased dramatically in price. Prices for Bacon jumped 20% since 2015. Oils and edible fats rose 18.5% since January 2009. Consumers are looking for alternative and cheaper means to put food on the table, including buying from farmers/farmers markets, buying non-perishables, and buying food only when it’s on sale.

The hardest hit group, suffering the most loss are young adults. Many young people living on their own or with a loved one are struggling to pay the countless expenses on their plate. Many young adults are having to temporarily move back in with relatives to afford the cost of living in the Greater Vancouver area. “Saving where you can will be the biggest help along with budgeting your earnings.” is what one lady exclaimed when asked what action people can take to stay afloat. Consumers must transition from normalcy to a more frugal lifestyle for the time being.