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Time of India
12-05-2025
- Business
- Time of India
Canadians, your milk and beef might soon cost you a fortune
Grocery bills, the new strain on families Live Events Support for Local Producers The Trump Factor (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel While farmers are seeing higher returns, the price hikes are creating a tough situation for families who are already struggling to make ends meet. Canadians are feeling the heat as food prices continue to rise, with dairy and beef costs hitting new for everyday essentials like milk, butter, and beef have surged, causing many families to rethink their shopping habits this year. Milk prices are now up to $5.35 for a two-litre carton, and butter has reached $5.64 for a 454-gram are still feeling the pressure, and the rising costs are largely due to a combination of factors, including higher transportation and labor costs despite some adjustments in milk prices made by the Canadian Dairy prices will go up by 3 percent to 5 percent according to a prediction by the 2025 Canada's Food Price Report, meaning the average family of four could see their grocery bill jump by as much as $800 this families are hit the hardest, with many turning to food banks and community kitchens and opting for cheaper options that may not be as people are now shifting to Canadian-made dairy and beef products, even if they cost a bit producers are seeing an increase in demand as people try to support Canadian farmers in places like Manitoba and Ontario. Although it helps the local businesses, it doesn't completely ease the burden for families who are already question on many people's minds is whether these rising prices are President Donald Trump 's aggressive approach to trade, especially the renegotiation of NAFTA/USMCA, has led to uncertainty and more rigid cross-border rules. These rules have made it harder for Canadian producers to compete and more expensive to import or export livestock and action is taken, Canadians will keep feeling the squeeze where it hurts most, in their kitchens.
CBC
24-04-2025
- Business
- CBC
Rising demand at food banks seen as 'canary in the coal mine' for affordability crisis
As a single mother on a fixed income, Kelly Tysick finds it harder than ever to make ends meet. Rents have jumped in her Montreal borough of Côte-des-Neiges–Notre-Dame-de-Grâce, making the rising cost of food nearly impossible to afford on her budget. "I feel like it used to be affordable living, but now it's beyond belief," Tysick said during a recent visit to the Depot Community Food Centre, a local non-profit that aims to address food insecurity. The centre provides meals three days a week and offers food baskets and other services to those in need. Tasha Lackman, the organization's executive director, said demand tripled in the span of two years — forcing them to put a cap on new customers. "We reached our capacity as an organization in terms of the food costs, the space that we have, the human resources that we have," she said. They now serve roughly 1,800 families a month. Across Canada, she pointed out, nearly one in four people experience some form of food insecurity. "It's the canary in the coal mine," Lackman said. "It's a symbol or a symptom of a really broken system that needs to address the most vulnerable in its communities." She added: "We need a government who is taking that seriously." 'Silent issue' Food banks across Canada set a new record for demand in 2024, with more than two million monthly visits — nearly double the rate seen only five years prior, according to Food Banks Canada. "It is hard to do the work of food banking and know that more and more people are coming to your doors," said Kirstin Beardsley, CEO of the organization, which represents more than 5,500 food banks and community groups. "Many people are coming for the first time, and folks who probably never thought they'd need a food bank and to have it be sort of a silent issue during the election — it's challenging for us, to be honest," she said. Food Banks Canada is calling on the federal parties to commit to reducing food insecurity by half by 2030. Food prices, meanwhile, continue to rise. The Food Price Report, an independent annual analysis by four Canadian universities, predicted food prices could increase by three to five per cent this year compared to 2024 — higher than the Bank of Canada's inflation target of between one and three per cent. "What we're encountering right now is a problem where food inflation is bigger than general inflation," said Pascal Thériault, an economist and agronomist at McGill University. "We perceive food as going up at a higher rate than everything else, and consumers are right when they claim that food prices are going up faster because they are." The trade war with the United States is likely to make things worse, Theriault said. Already, consumer price index data indicates a slight increase in food prices. In March, the latest month available, the year-over-year price increase had risen to 3.2 per cent, up from 2.8 per cent in February, according to Statistics Canada. WATCH | How could the federal government help make life more affordable? What does a rising cost of living mean to Canadians, and how could the federal government help? 6 minutes ago Duration 3:09 While some Canadians are trying to buy local, many are simply buying what they can afford, and hoping something can be done to curb the rising costs of basic necessities. Not just about food prices The cost of food is only part of the reason why food banks have seen such a spike in demand, Beardsley noted. "Food insecurity is actually not in general about food, it's about incomes and affordability," she said. "In nearly every region of this country, housing has become too much of an expense, so people are forced to choose between whether they pay their rent this month or whether they put food on the table for their families." In particular, her group called on the next government to address the housing crisis, improve assistance for workers on low incomes and "rebuild Canada's social safety net." Lackman stressed that "not everybody is touched equally by the affordability crisis. And so people who are living on minimum wage or on fixed incomes are the hardest hit." "If governments are taking affordability seriously, then some of these issues get addressed. The programs like employment insurance need to be overhauled and upgraded," she said. What the federal parties are promising When it comes to food prices and affordability, here's some of what the main federal parties are proposing. (See our full platform tracker for a complete rundown.) The Liberals have promised to invest in greenhouses, hydroponics, fisheries and financial support programs for farmers. They would also trim one percentage point off the lowest income tax bracket. The Conservatives have said they would address the rising cost of living by building more homes, cutting taxes and easing on the lowest income tax bracket from 15 per cent to 12.75 per cent. The NDP has promised to enforce a mandatory "grocery code of conduct" that would regulate pricing practices, empower the Competition Bureau to act as a grocery price watchdog and tax the windfall profits of major grocery retailers. The Greens would also apply a 15 per cent "excess profit tax" on grocery chains. It has also prioritized building more social housing.
Yahoo
11-02-2025
- Business
- Yahoo
With at least 12 downtown St. John's businesses closing, these experts weigh in on the causes and solutions
Piatto Pizzeria and Enoteca operates two locations in St. John's, and yet, founder and CEO Brian Vallis says his business is feeling the increased cost of living, too. (Olivia Garrett/CBC) While downtown St. John's has been popular for its culinary scene — attracting world renowned chefs like Anthony Bourdain for a visit — a walk down Water Street lately reveals one vacant storefront after another. The sight has prompted industry experts to call for swift action to revive the area, which saw at least a dozen businesses — half of them on Water Street — shut their doors forever, or announce they soon will, within the last six months. "To see businesses at this volume close their doors is very concerning," said AnnMarie Boudreau, CEO of the St. John's Board of Trade. While retail stores and clubs have felt the squeeze, the closures have been mostly restaurants. It's a trend that can also be seen outside Newfoundland and Labrador. According to Restaurants Canada, 45 per cent more restaurants across the country went bankrupt between January and August last year than in the same period in 2023. Despite not one, but two locations in the city, Piatto Pizzeria feels the strain, too. Among the businesses that have shut down over the past few months are downtown staples like Pi Pizzeria and the Newfoundland Weavery. Industry leaders say collaboration on all levels is needed to turn the tide. (Mike Simms/CBC) Rising food prices, inflation and increased shipping. Founder and CEO Brian Vallis said those are only some of the factors putting pressure on his restaurants. "A bag of flour went from $50 a bag to $150 a bag. The price of our cheeses all doubled, our meats doubled," said Vallis. "Everything is gone up. So, you've got less sales, you've got more expenses. So, you've got a poor bottom line. Most restaurants have lost money or just broken even for the last two or three years." That personal observation is supported by a Restaurants Canada release from Jan. 17, which said 53 per cent of restaurants nationally are operating at a loss or barely breaking even. Furthermore, according to Canada's Food Price Report, which was released on Dec. 5, food prices in the province rose by 3.8 per cent in 2024 and are predicted to experience another increase above the national average this year. This increase in cost comes at a time when businesses are still recovering from the COVID-19 pandemic. While restrictions have long been lifted, Vallis said the long-term impacts of lockdowns and the loss of three summer seasons continue to be felt. Brian Vallis is the founder and CEO of Piatto Pizzeria, which has two locations in St. John's. (Henrike Wilhelm/CBC) Consumer behaviour also changed during that period with online shopping seeing an uptick says Tom Cooper, a professor in strategic management at Memorial University's faculty of business administration. In combination with the impacts of inflation on consumers' wallets, he said, some of those who have been driving business downtown have stayed away. "Twenty-something and 30-something-year-olds are having to deal with the very hot housing market," said Cooper. "You're trying to save money for a down payment or you're trying to save money because you need to pay your rent. And so, what do you decide to not spend your money on? On restaurants, on new clothing." Although businesses across the Atlantic provinces are feeling the impact of the economic climate, numbers seem to indicate that downtown St. John's is hit harder. According to data provided by real estate firm Turner Drake & Partners, as of June 2024, the office space vacancy rate downtown was at 31 per cent, compared to 19.9 per cent in Halifax and 15.5 per cent in Fredericton. While the empty space in the downtown core is noticed at city hall, a vacancy tax isn't an approach Mayor Danny Breen wants to take. Instead, Breen says he's banking on more investments — especially in residential developments. While he wouldn't go into details, he said several projects are currently in the planning stages. "We have a number of buildings that are vacant, which is not something that we want to see, but you do see in cities from time to time.… Once more people are living there, that brings about the amenities and gives a better market for businesses to operate in," said Breen. "I think that's the catalyst we'll need to bring about our resurgence in the downtown." Tom Cooper is a professor in strategic management at the faculty of business administration at Memorial University in St. John's. (Henrike Wilhelm/CBC) Cooper agrees that diversification of spaces to embrace residents and a wide variety of organizations — such as Choices for Youth or a recreation centre — can help attract not just tourists in the summer months, but locals all year round. And, he said, cities like Halifax have managed to provide spaces for residents "just to hang out" instead of consuming, which in St. John's is only possible at Harbourside Park or during the pedestrian mall in the summer. Back at Piatto, Vallis also wants to see financial support for businesses, whether as an extended HST break on the federal level, a provincial loan program or a municipal tax break. He also calls for measures to increase the safety of the area, and its cleanliness. "If you walk down Water Street and Duckworth Street, you're going to see all kinds of buildings closed. They're in a state of disrepair. There's people living in the doorways and there's a lot of pan handlers," said Vallis. "It's a deterrent for people coming down. They don't feel safe. They don't feel welcome." Meanwhile, Breen said the city is working on addressing those concerns, but isn't ready to share details. Yet, they all agree that there need to be discussions between stakeholders to find the best approach to solutions. WATCH | These business owners say it's not too late to reverse the trend: "There are plenty of cities and capital cities that have gone through periods where things just go into a slump. But with intentional decision-making, and with really careful and strategic decisions, you can stop it. And communities have proven that they can reverse the trends and that's what we need to do right now," said Boudreau. "Our community will look vastly different 12 months from now if we don't provide some sort of support." Download our free CBC News app to sign up for push alerts for CBC Newfoundland and Labrador. Sign up for our daily headlines newsletter here. Click here to visit our landing page.
CBC
11-02-2025
- Business
- CBC
With at least 12 downtown St. John's businesses closing, these experts weigh in on the causes and solutions
While downtown St. John's has been popular for its culinary scene — attracting world renowned chefs like Anthony Bourdain for a visit — a walk down Water Street lately reveals one vacant storefront after another. The sight has prompted industry experts to call for swift action to revive the area, which saw at least a dozen businesses — half of them on Water Street — shut their doors forever, or announce they soon will, within the last six months. "To see businesses at this volume close their doors is very concerning," said AnnMarie Boudreau, CEO of the St. John's Board of Trade. While retail stores and clubs have felt the squeeze, the closures have been mostly restaurants. It's a trend that can also be seen outside Newfoundland and Labrador. According to Restaurants Canada, 45 per cent more restaurants across the country went bankrupt between January and August last year than in the same period in 2023. Despite not one, but two locations in the city, Piatto Pizzeria feels the strain, too. Rising food prices, inflation and increased shipping. Founder and CEO Brian Vallis said those are only some of the factors putting pressure on his restaurants. "A bag of flour went from $50 a bag to $150 a bag. The price of our cheeses all doubled, our meats doubled," said Vallis. "Everything is gone up. So, you've got less sales, you've got more expenses. So, you've got a poor bottom line. Most restaurants have lost money or just broken even for the last two or three years." That personal observation is supported by a Restaurants Canada release from Jan. 17, which said 53 per cent of restaurants nationally are operating at a loss or barely breaking even. Furthermore, according to Canada's Food Price Report, which was released on Dec. 5, food prices in the province rose by 3.8 per cent in 2024 and are predicted to experience another increase above the national average this year. This increase in cost comes at a time when businesses are still recovering from the COVID-19 pandemic. While restrictions have long been lifted, Vallis said the long-term impacts of lockdowns and the loss of three summer seasons continue to be felt. Consumer behaviour also changed during that period with online shopping seeing an uptick says Tom Cooper, a professor in strategic management at Memorial University's faculty of business administration. In combination with the impacts of inflation on consumers' wallets, he said, some of those who have been driving business downtown have stayed away. "Twenty-something and 30-something-year-olds are having to deal with the very hot housing market," said Cooper. "You're trying to save money for a down payment or you're trying to save money because you need to pay your rent. And so, what do you decide to not spend your money on? On restaurants, on new clothing." Although businesses across the Atlantic provinces are feeling the impact of the economic climate, numbers seem to indicate that downtown St. John's is hit harder. According to data provided by real estate firm Turner Drake & Partners, as of June 2024, the office space vacancy rate downtown was at 31 per cent, compared to 19.9 per cent in Halifax and 15.5 per cent in Fredericton. While the empty space in the downtown core is noticed at city hall, a vacancy tax isn't an approach Mayor Danny Breen wants to take. Instead, Breen says he's banking on more investments — especially in residential developments. While he wouldn't go into details, he said several projects are currently in the planning stages. "We have a number of buildings that are vacant, which is not something that we want to see, but you do see in cities from time to time.… Once more people are living there, that brings about the amenities and gives a better market for businesses to operate in," said Breen. "I think that's the catalyst we'll need to bring about our resurgence in the downtown." Cooper agrees that diversification of spaces to embrace residents and a wide variety of organizations — such as Choices for Youth or a recreation centre — can help attract not just tourists in the summer months, but locals all year round. And, he said, cities like Halifax have managed to provide spaces for residents "just to hang out" instead of consuming, which in St. John's is only possible at Harbourside Park or during the pedestrian mall in the summer. Back at Piatto, Vallis also wants to see financial support for businesses, whether as an extended HST break on the federal level, a provincial loan program or a municipal tax break. He also calls for measures to increase the safety of the area, and its cleanliness. "If you walk down Water Street and Duckworth Street, you're going to see all kinds of buildings closed. They're in a state of disrepair. There's people living in the doorways and there's a lot of pan handlers," said Vallis. "It's a deterrent for people coming down. They don't feel safe. They don't feel welcome." Meanwhile, Breen said the city is working on addressing those concerns, but isn't ready to share details. Yet, they all agree that there need to be discussions between stakeholders to find the best approach to solutions. WATCH | These business owners say it's not too late to reverse the trend: With several St. John's businesses closing down, these experts weigh in on reversing the trend 4 days ago Duration 4:42 At least a dozen businesses in St. John's have closed down over the last few months. The CBC's Henrike Wilhelm reports on what's causing the economic downturn and how to fix it. "There are plenty of cities and capital cities that have gone through periods where things just go into a slump. But with intentional decision-making, and with really careful and strategic decisions, you can stop it. And communities have proven that they can reverse the trends and that's what we need to do right now," said Boudreau.
