forma condo downtown.Prices in Canada are soaring. Over the years of the outbreak, Canada has slowly begun to recover from the COVID-19 pandemic and ongoing supply chain problems, but Canadian prices continue to rise, putting tremendous pressure on Canadian residents.Please Visit: forma condo downtown to Get Your VVIP Registration Today!
Experts say this trend will continue in 2022.
From families, to cars, to food, here are the industries in which prices are expected to rise in 2022:
Food:
The price of baked goods is expected to rise by 5% to 7%.
Dairy prices are expected to rise by 5% to 7%.
Vegetable prices are expected to rise by 5% to 7%.
Fruit prices are expected to rise by 3% to 5%.
Meat and seafood prices are expected to rise by 2%.
The higher cost of ingredients means that eating out will also be more expensive, and restaurant prices are expected to rise by 6% to 8%.
Overall, the report shows that annual food spending for a family of four will be as high as C $14767, an increase of C $966 over 2021.
Experts say the price of cars is expected to be higher, at least until the first half of 2022.
In a telephone interview with CTVNews.ca in Michigan, Kevin Roberts, director of industry insight and analysis at CarGurus, said that while Canadians expected prices for both new and used cars to rise, the pace would “slow” soon.
Mr Roberts said that while it was “hard to know” how much prices would rise, he pointed to the November figures.
“the price of new homes rose 6.4 per cent, up 25.5 per cent from a year earlier.” “so these are some of the very significant month-on-month increases we have seen in the past few months.”
Mr Roberts said production of cars constrained by supply shortages should “pick up” again in early December.
“hopefully by mid-2022, this will start to catch up with demand,” he said. ” “when this happens, we begin to see an improvement in inventory levels, which is expected to lower prices slightly.”
However, Roberts said that because car production forecasts change from month to month, it is difficult to determine exactly when Canadians will see prices fall.