The rising cost of food in Canada is expected to make the average holiday turkey dinner for a family of four to six people cost $104.85, according to research from Dalhousie University’s Agri-Food Analytics Lab. Dr. Sylvain Charlebois, the lab’s director, emphasized the importance of celebrating the spirit of togetherness and shared joy during the holidays, regardless of the menu on the table. He also noted that the price of turkey, potatoes, and carrots have all seen notable increases since 2022.
The report suggested that high food prices could lead many Canadians to consider lower-cost alternatives for their holiday meals. For example, replacing turkey with ham could reduce the meal’s cost by an average of $7.79. Dr. Charlebois also encouraged people to explore low-cost dish ideas online, emphasizing that this is an opportunity to share the enjoyment of the meal without excessive financial or social pressure.
The Agri-Food Analytics Lab’s Canada’s Food Price Report predicted a five to seven percent increase in food prices in 2024, with the most significant increases expected in the cost of vegetables, dairy, and meat. The report also forecasted that the average family of four could spend up to $16,288.41 per year on food, an increase of up to $1,065.60 from 2022. The report cited international events, high oil prices, the weak Canadian dollar, labour shortages, and adverse climate events as factors contributing to higher food prices.
A Statistics Canada report from July highlighted that food prices are on average 20 percent higher than in 2021, prompting roughly half of Canadians surveyed to seek out sales, promotions, cheaper brands, or alternative food options.