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Stocking your shelves is about to get a lot more expensive.

 

World food prices have hit a record high this year, according to the United Nations World Food Organization. It's due to a combination of poor crops in major growing countries, such as Russia and Australia. Inventories are being lowered while demand is on the rise.

 

Evan Fraser, a University of Guelph Geography Professor, predicts food prices will likely increase 5% to 10% over the next year alone. Kevin Grier, a Senior Market Analyst at the George Morris Centre in Guelph, says we as consumers haven't seen the increase in prices yet because, for the most part, the lid is being kept on by the processors and retailers. Other factors include the high Canadian dollar and the intense retail competition within our country.

 

John Russell, a Moose Jaw-based food writer for savourlife.ca, says price is not the only thing to watch out for, adding just last week, for example, he noticed a package of cheese that was normally 350 grams is now down to 350g, but the price did not change.

 

He has a few tips for the next time you stroll down the grocery aisle...

 

 

Russell also advises consumers to stay away from smaller servings saying that in the economies of scale, it costs more to pack a smaller item instead of a larger item, and the key is becoming educated at what you're buying as a consumer.