For a family of four, that will result in a $348 increase in annual food costs, for a total of $11,948.
A bulk of the food-cost-hike (59%, or $208) will be due to eating out at restaurants and buying pre-made meals, says the report.
The price of dining at a restaurant is expected to increase by 4% to 6% in 2018.
Basically, if you’re used to eating out a lot, then your wallet may take a hit next year.
If you’re regularly cooking at home and primarily purchase food at a grocery store or supermarket, however, you “should be in good shape for 2018” a lead researcher on the report told the Canadian Press.
Right now, Canadians spend around 30% of their annual food budget on restaurants or pre-made meals.
In comparison, Americans spend equal amounts on eating out and groceries.
But Canadians may reach the same 50-50 split by 2035, said an author of the report, which will increase the population’s annual food costs all the more.
Going into 2018, certain provinces will be feeling the price hike on food more than others.
British Columbia and provinces in Atlantic Canada are expected to see an increase an above-average increase food prices.
Fortunately for folks in Quebec (along with Manitoba and Saskatchewan) food prices will increase, but not by a lot.
While food products, overall, are expected to rise in price by 1%-3% in 2018, certain categories of foods will become more expensive than others.
Dairy, baked items, seafood, and meats are predicted to increase in price by 2%, max.
The price of vegetables on the other hand, is expected to increase by 4%-6%, largely due to unfavourable meteorological conditions. Fruits will increase in price a bit, too, at a rate of 1%-3%.
In other words: eating healthy is going to cost you more money in 2018.