Despite prices remaining high, Quebecers will see a drop in their grocery bills for the first time since 2021, particularly thanks to savings on soup, bacon and shrimp.
Food price growth slowed compared to last year, when it stood at 3.4%. In December, it was 4.7%, according to January data from Statistics Canada.
The increases continued, but were significantly lower than in the previous year. Meat (+2.8%), dairy products (+1.5%), fresh fruit (+1.9%), baked goods (+4.0%) and other food preparations (+4.2%) contributed to this reality at.
On the other hand, Quebecers noticed a decrease in the price of bacon (-8.4%), soup (-2.1%) and shrimp (-3.4%). They were able to enjoy these foods again without breaking their budget.
A breath of fresh air
According to Statistics Canada, food inflation was 3.9% in January. The lowest rate since October 2021 and the largest decline since 2016.
For food expert Sylvain Charlebois, it's a breath of fresh air for Quebecers.
“That’s good news,” he says. It must be taken into account that the inflation rate in January 2023 was very high. In fact, we see a small increase on top of a large increase.
“The numbers are reassuring.”
He is also very optimistic about the 1% difference between inflation rates and those of the food sector. This is the first time in almost two years that we have experienced such a situation.
“This means that food is becoming less and less of an inflation problem. Prices should fluctuate significantly less than before.”
A trend that is confirmed
The report's numbers confirm a strong trend that began last December.
When it comes to fruit and vegetables, there have already been significant price declines for iceberg lettuce (-36.5%), oranges (-31.8%) and pears (-27.9%).
The same applied to the purchase of a whole chicken (-23.2%), a dozen eggs (-8.3%) or pasta (-6.4%), which had already seen price declines at the end of 2023.
However, in January the situation was anything but rosy. Quebecers' wallets have been eroded by staggering increases.
Prices of food purchased at grocery stores and restaurants rose 10.4%. The main cause was the explosion in meat prices (+7.3%), the strongest annual increase since 2004.
The cost of fresh or frozen chicken (+9.0%) also played a role in this situation. Bakery products (+15.5%), dairy products (+12.4%) and fresh vegetables (+14.7%) were also highlighted.
Decline in nine provinces
Alberta is the only province to see a significant price increase, “due, among other things, to a larger increase in electricity prices in January (+119.9%) than in December (+22.9%).”
In Quebec, the inflation rate fell slightly between December 2023 and January 2024 (-0.1%). It also increased by 3.4% year-on-year. It is the province with the highest inflation rate in Canada.
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