An annual food report is predicting Canadian families will be shelling out even more to feed their households in 2019.
The report estimates food prices will rise between 1.5 to 3.5% next year, increasing the average family of four’s annual spending to $12,157, up $411 from 2018.
While the price of meat and seafood is expected to drop slightly, the cost of veggies is predicted to jump up to 6%, with lettuce and tomatoes as possible candidates for big price fluctuations.
Conducted by researchers at Dalhousie University and the University of Guelph, the report believes there’s an oversupply of meat as Canadians continue to show more interest in alternative proteins, like quinoa and lentils.
Maybe the most telling sign of a cultural shift towards plant-based proteins is the booming popularity of A&W's Beyond Meat burger, which completely sold out this summer.
The report tags millennials as the large contributor to the demand for plant-based proteins, along with ageing baby boomers paying closer attention to their health.
However, the dramatic spike in beef prices that started in 2014 is considered to be the largest turning point by industry watchers.
The report predicts more modest increases for bakery (1-3%), dairy (up to 2%) and fruit (1-3%). Restaurant prices are also expected to rise up to 4%.
With files from the Canadian Press.