Earlier this year, we posted a number of articles on Canada's high grocery prices, which were caused by the loonie falling against the US dollar. Now the loonie is bouncing back, reports the Huffington Post Canada, so the pressure is being taken off food prices — at least for the moment.
Statistics Canada reported Friday 20 May that fruit, vegetables and meat — three items that are sensitive to changes in the dollar’s value — all declined in price in April.
Fresh fruit fell by 3.5 per cent and fresh vegetables were down 5.4 per cent. Overall food prices were down 0.5 per cent.
But due to rapid price growth in previous months, prices on those items are still up from a year ago. Fresh fruit is 11 per cent more expensive than a year ago, while vegetables are up 11.7 per cent.
Source: huffingtonpost.ca