Commentary
With summer weather settling in, Canadians are returning to a familiar ritual—firing up the barbecue. But as they approach the meat counter, many are faced with shockingly high prices. This year, the meat aisle has become a case study in supply-side economics and market dysfunction, leaving consumers to wonder how this all came to be.
Since January, according to Statistics Canada, beef prices have surged dramatically. Striploin is up 34.2 percent, top sirloin 33.7 percent, and rib cuts nearly 12 percent. Pork rib cuts and chicken breasts have each risen 5.9 percent, while even meatless burger patties are 6.8 percent more expensive. Beef has led the way in these increases, and its dominance in the price hikes is striking. What’s particularly concerning is that it’s not just one cut of beef—virtually every option has seen a dramatic jump, putting pressure on Canadian consumers who were already grappling with rising food costs….