For decades, Canadians have been pretty lucky - we've enjoyed a plentiful food supply at a relatively low cost. To see how far cheap food prices have taken us, take a moment to browse the aisles of your local grocery store and count how many kinds of cereals, yogurts, pickles, etc. you can find at any given time. We're spoiled by quantity, selection and price. In fact, the biggest problem many of us have with food is that we eat too much of it.
But the days of cheap food are about to come to an end. Soaring food prices are already leading to social unrest in North Africa and China, and higher prices are on the way in Canada - just last week baked goods giant George Weston Ltd. announced that it's raising prices by an average of five percent to cope with the rising costs of oil, wheat and sugar.
Most economists don't think this is going to be a temporary price hike, either. The high cost of fuel means that foods you're used to enjoying pretty cheaply are going to get harder and more expensive to produce and ship.
Five Tips For Coping With Food Inflation
