Grocery prices to see 'significant' jump in February: report
Lately, if you’ve been lucky, grocery stores near you have been serving up some tasty deals.
At a No Frills near me not long ago, for instance, All Dressed Crispers were on sale for $1 a bag, which may or may not have turned me into a mix of Charlie Sheen, the Tasmanian Devil and an Egyptian protestor after having his Internet cut off.
And apparently, I haven’t just been seeing things. According to the Star, Canadian groceries have been very competitively-priced in the first weeks of 2011. Of course, the paper also reports a big Eff You is coming soon to your local supermarket.
Indeed, in spite of some fair deals this January, tomorrow is February and perhaps the dawn of a new Canadian grocery era. Eric La Flèche, president and CEO of Ontario/Quebec supermarket chain Metro Inc., tells the Star food prices are set to take off across Canada next month.
“In certain categories we’re expecting some pretty significant increases,” he said. Pasta and bread, specifically, may go up, by La Flèche’s estimate. Potash Corp. boss Bill Doyle seems to back up the CEO's projections.
Why are retail prices spiking, you ask? Food costs themselves are shooting up, the Star reports. Grains, oilseeds and sugar, to name a few, are all at peak levels not seen since 2008, according to the Food and Agriculture Organization of the United Nations.
Because of that, the cost of a basket of food basics jumped 25 per cent in December, and retailers are set to pass those higher product costs onto consumers soon.
At your grocer, have prices started to jump from earlier in the year? If so, by how much?
By Jason Buckland, MSN Money