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Food prices forecast to rise by 5 per cent in C

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Food prices forecast to rise by 5 per cent in Canada


Economics | 207378 hits | Feb 05 8:11 am | Posted by: wildrosegirl
24 Comment

Canadians can expect their monthly grocery bill to go up significantly this year, according to a new projection that says rising agriculture prices will soon trickle down to supermarkets.

Comments

  1. by avatar saturn_656
    Sat Feb 05, 2011 4:35 pm
    Figures.

  2. by avatar RUEZ
    Sat Feb 05, 2011 7:13 pm
    People can just eat less.

  3. by avatar saturn_656
    Sat Feb 05, 2011 7:16 pm
    "RUEZ" said
    People can just eat less.


    That seems to be what is expected of us when the prices jump on an essential item.

    Pay up, or use less and stop bitching.

  4. by avatar RUEZ
    Sat Feb 05, 2011 7:20 pm
    "saturn_656" said
    People can just eat less.


    That seems to be what is expected of us when the prices jump on an essential item.

    Pay up, or use less and stop bitching.
    Pretty much. I have four acres so I'll be growing a lot of my own food.

  5. by Lemmy
    Sat Feb 05, 2011 9:53 pm
    "RUEZ" said
    People can just eat less.

    Not just "can", people WILL purchase less food if food prices increase. Food, in general, and virtually all food products, specifically, have inelastic demand. This means that, even though people will eat less as a result of a 5% increase in prices, they will still spend more on food than prior to the price change. Of course, this is bad for consumers' economic welfare, but it may actually be good for society overall. Food producers & sellers benefit as their revenues will rise. Consumers will buy less food and this may be a benefit to their health, which benefits all of society.

  6. by avatar andyt
    Sat Feb 05, 2011 9:57 pm
    People will switch to cheaper foods, which usually means less healthy. Nobody's going back to cooking from scratch - modern lifestyles just don't allow it. McDonald's will get a big boost in sales, as they did in the recession when wages dropped.

  7. by Lemmy
    Sat Feb 05, 2011 10:08 pm
    Thanks for raining on my parade, Poopy-head! I was looking for a silver lining. :D The other BIG problem this price increase will create is for poor people. Poor people spend a greater percentage of their spending on food than richer people. This is another factor in elasticity of demand. Food is even more inelastic for low-income families, so the increase in total expenditure on food is greater for poorer people.

    As for the McDonald's effect you noted, that's not entirely true. People didn't switch from store bought food to Mickey D's as a result of the recession. They switched from more pricey restaurants to McDonalds. But people certainly spent less on dining-out overall. This price increase will have the same effect. While more people may eat at McDonalds, they will also eat at home more, which is certainly a healthy lifestyle choice overall.

  8. by avatar andyt
    Sat Feb 05, 2011 10:13 pm
    Pricey restaurants have better quality food than McDonalds was my point. And again, when they eat at home it will probably be more KD and stuff they can nuke.

    But, I accede to your point as well. Britons were far healthier during WWll because they had less food, and what there was was very basic stuff. They ate a lot more cabbage and beets. Not sure that will happen this time tho.

    But maybe we'll start getting some food riots here too, as $8/hr wage slaves find it hard to manage. I hope so, as long as they're nice, polite, Canadian style riots.

  9. by avatar djakeydd
    Sat Feb 05, 2011 10:22 pm
    rise 5% in what - a week..

  10. by Lemmy
    Sat Feb 05, 2011 10:32 pm
    "andyt" said
    Pricey restaurants have better quality food than McDonalds was my point.

    Better quality doesn't necessarily mean healthier. Boston Pizza or Swiss Chalet aren't any healthier than Mickey D's. Nor is the typical family restaurant or even fine-dining fare any healthier; salt, butter and the deep-fat fryer.

    "andyt" said
    And again, when they eat at home it will probably be more KD and stuff they can nuke.

    Yup, and it'll likely be worse things than KD, like canned, salted and preserved foods. KD's a hell of a lot better choice than Chef Boyarde (unless it's 2am and you're high 8) ).

  11. by avatar Proculation
    Sat Feb 05, 2011 10:39 pm
    "Lemmy" said
    Pricey restaurants have better quality food than McDonalds was my point.

    Better quality doesn't necessarily mean healthier. Boston Pizza or Swiss Chalet aren't any healthier than Mickey D's. Nor is the typical family restaurant or even fine-dining fare any healthier; salt, butter and the deep-fat fryer.

    "andyt" said
    And again, when they eat at home it will probably be more KD and stuff they can nuke.

    Yup, and it'll likely be worse things than KD, like canned, salted and preserved foods. KD's a hell of a lot better choice than Chef Boyarde (unless it's 2am and you're high 8) ).
    You don't know how a can of SPAM can spare your life in college :P

  12. by avatar djakeydd
    Sun Feb 06, 2011 10:04 pm
    http://www.breitbart.com/article.php?id ... _article=1

  13. by avatar CDN_PATRIOT
    Sun Feb 06, 2011 11:23 pm
    Not a big deal really. As someone who shops smart and eats smart, these increases never really bother me. It's all about budgeting and balance. Oh, and don't go grocery shopping when you're hungry.....

    -J.

  14. by avatar Public_Domain
    Mon Feb 07, 2011 1:31 am
    :|



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