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5 Things to Know Today: The Money News Shaping Your Week

5 Things to Know Today: The Money News Shaping Your Week 1. Canada’s Economy Grew Faster Than Expected Canada’s economy expanded at an annualized 2.6% in Q4, driven by stronger household spending, exports, and business investment. 2. Manitoba Fast‑Tracks Major Infrastructure Projects A new federal‑provincial agreement introduces a “one project, one review” system to accelerate ports, highways, and energy corridors. 3. Job Market Shows a Small but Positive Uptick Canada added 14,000 jobs in March, with wages rising 4.7% — a key factor ahead of the Bank of Canada’s April 29 rate decision. 4. Oil Markets Remain Volatile After Hormuz Reopening Iran has reopened the Strait of Hormuz, but analysts warn global oil markets may take time to stabilize. 5. Canadians Face Rising Affordability Pressures More Canadians are turning to budgeting tools as inflation, energy costs, and housing pressures persist.
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Food Prices Expected to Rise 3-5% in 2025

 

A newly released report predicts that food prices in Canada will increase by 3% to 5% in 2025. The report, a collaborative effort by researchers from Dalhousie University, the University of Guelph, the University of Saskatchewan, and the University of British Columbia, forecasts that the average Canadian family of four will spend $16,833.67 on food next year, an increase of up to $801.56 from 2024.

The report attributes the rise in food prices to several factors, including climate change, geopolitical conflicts, energy costs, and the weakening Canadian dollar. Meat prices are expected to rise between 4% and 6% due to prolonged droughts affecting cattle production. Vegetable prices are also anticipated to increase faster than other categories due to the lower buying power of Canadian food importers.

Despite the projected increase, the report notes that the rate of food price growth has moderated compared to the double-digit increases experienced during the COVID-19 pandemic. Researchers remain cautiously optimistic, hoping for a flattening out of food price increases in the coming year.



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