Food prices in Canada are likely to increase by three to five per cent next year, according to a newly released report, but wild cards like climate change and Donald Trump could have unforeseen impacts.
That's the conclusion of the 15th annual food price report released Thursday by a partnership that includes researchers at Dalhousie University, the University of Guelph, University of Saskatchewan and University of British Columbia.
"It would be fantastic if it was even lower, but you know, it's a step in the right direction," said Stuart Smyth, the University of Saskatchewan's campus lead on the project. This is in part due to record-high beef prices that have resulted from years of drought in the West that have led cattle producers to reduce the size of their herds.
But this year, the report's authors are also watching for potential impacts related to the return of former president Trump to the White House in 2025, said Sylvain Charlebois, project lead and director of Dalhousie's Agri-Food Analytics Lab.
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