Meat Now Costs Way More In Canada & The Prices May Stop You Bringing Home The Bacon

If you love meat products in your diet, you've probably noticed that your grocery bill has risen lately.

On Wednesday, November 17, Statistics Canada revealed the Consumer Price Index and it showed that prices for meat products rose almost 10% in October of 2021, compared with October 2020.

Fresh or frozen beef saw a jump of 14%, processed meat rose by 8.5% and bacon increased by a whopping 20.2% year over year.

"Labour shortages that have slowed down production, ongoing supply chain challenges and rising prices for livestock feed continued to factor into higher prices for meat," explained Statistics Canada.

That's not the only category that's seen a rise in prices. Energy prices have surged by 25.5% since last October, which was mostly driven by the increase in gas prices.

"Compared with October in the previous year, consumers paid 41.7% more for gasoline, as shortages in other energy sources, such as coal and natural gas, led major economies to use more oil for power generation," said Statistics Canada. "This contributed to higher prices at the pump."

Overall, the CPI rose 4.7% on a year-over-year basis in October, which is up from September's 4.4% increase. Yikes!

This article’s cover image was used for illustrative purposes only.