Overview

• The 2025 Food Price Report anticipates a 3-5% increase in food prices, translating to an additional $800 in annual grocery costs for a family of four.
• Key drivers of rising costs include climate change, extreme weather events, and droughts, which have affected crop yields and livestock production.
• The weak Canadian dollar is expected to increase the cost of imported food and essential farming inputs, further pressuring prices.
• Geopolitical factors, including potential U.S. tariffs under President-elect Donald Trump, could disrupt supply chains and inflate costs for Canadian consumers.
• While price increases are moderating compared to pandemic-era inflation, categories like meat and vegetables are expected to see the steepest hikes, with meat prices potentially rising by 4-6%.