Due to a “perfect storm” of inflationary factors – not the least of which being the continuing drop in oil prices – Canadians are seeing the effects of a weakening currency reflected in food prices at the supermarket. $3 cucumbers, $8 for a head of cauliflower, grapes at $10 per bag – the spiraling cost of foods, particularly those imported from Canada’s neighbor to the south, has consumers there reeling from sticker shock.
Social media platforms have been inundated lately with complaints about the rising food costs, and the offset in low prices at the gas pump has not been enough to make up the difference for Canadians who are now paying more for almost all imported goods. It’s one thing having to forego buying a new iPhone or other luxury items, but not being able to afford the foods one is accustomed to is particularly frustrating for the average consumer. So what’s behind the collapse of the Canadian dollar? FULL REPORT