George Bernard Shaw once said “there is no love sincerer than the love of food.” While George was spot on regarding our taste buds, he never faced paying $7 for a pound of butter. “Give us this day our daily bread …” the prayer goes. But God never ventured into a grocery store.
Canadians are in the midst of one of the worst inflationary periods for food in our history. We’re plagued by high prices and scarce products on shelves. As polite Canucks, we didn’t say much when butter hit $7 per pound or a good steak breached the $30 mark. Those who do the grocery shopping each week know all too well how food prices are dinging the bank account.
The latest financial news comes with some noticeable belt-tightening among average Canadians. It was reported recently week that “51% of Canadians can’t afford a $200 increase in monthly expenses.”