Canadian families could see their annual grocery bills jump $1,000 next year if diesel prices remain elevated, a top food economist is warning.
Dalhousie University Agri-Food Analytics Lab senior director Sylvain Charlebois told the House of Commons human resources committee that escalating fuel costs are likely to drive food prices higher in the next six to 12 months.
He told the committee during his testimony on Oct. 29 that these prices quickly impact the cost of farming, processing, and transportation.
“Our lab scenario indicates that if high diesel prices persist through winter, grocery inflation could peak 0.5 to 0.7 percentage points above an easing baseline,” said Charlebois, who described the increase as “significant.”…