Inflation rates have made it harder to afford food than ever before
Everyone is talking about rising prices and inflation lately. What is inflation? Inflation means that there is an increase in the prices of products while wages/income remains the same. This means each Canadian has less to spend every month compared to the previous period. Statistics Canada reported that Canadians paid about 10% more for food in April 2022 than last year, while average hourly wages rose only 3.3% year-over-year. The increase in price for staple foods forced Canadians to adopt stressful and complicated strategies just in order to put food on the table. We at Sai Dham Food Bank experience this trend firsthand, as the demand for food banks has risen since last year, and the profile of people who access food banks has also changed!
According to Statistics Canada data, meat products have seen the largest price increase, they are 10% more expensive in a span of just 6 months! Many are turning to the cheapest options they can afford. Families are also selling and getting rid of what they consider “luxury items” so they can afford a meal for their families. A recent study found more than 66% of Canadians reported that rising grocery prices have resulted in a direct impact on their finances, and 1 in 3 Canadians say it is leading to depression, stress, and mental health challenges. Nearly 40% of our fellow Canadians report feeling hopeless and helpless about their future.
These are shocking statistics indeed. The inflation challenge is even more pressing for families who have dietary restrictions. Those suffering from any medical condition like diabetes have to be even more careful about what they are including in their diet. If they switch away from protein sources, they may suffer adverse health effects and this would be seriously detrimental in the long term- both for the individual and for society as a whole, and will also put pressure on our healthcare systems down the line.
Inflation seems to be here to stay for the immediate future. In a recent survey conducted, nearly 40% of participants stated they were purchasing products close to the expiry date as they are cheaper. This has also impacted the donations that would come to food banks from food retailers, as food that is close to the expiry date is now being sold to willing customers instead of being offered up to food banks.
The internet offers many tips to families and seniors for being more frugal and stretching the dollar, but for many, they are already fully stretched and at breaking point. Sai Dham Food Bank and other food banks are there for you. If you are a senior or someone with mobility challenges, please get in touch with us, we are here to help! We serve in over 26 cities across GTHA and beyond. We pioneered the home delivery of free groceries for those who are unable to get to food banks. Call us at 437–988–4422 or email us at info@saidhamfoodbank.com or visit our website.