World food prices are reaching record highs and the parent company of Loblaws says prices at their grocery stores will be going up as of April 1.
The United Nations Food and Agriculture Organization says global food prices reached their highest point in the last 20 years in February.
Year over year, the cost of many foods have gone up.
2010 2011
Bacon $4.51 $4.78
Corn Flakes $4.08 $4.20
Canned Apple Juice $1.85 $2.01
Pasta is also up and the cost of some vegetables is nearly doubling.
Next month, food producer Weston, the parent company of Canada's largest grocery chain, including Loblaws, will increase prices on their shelves five per cent. The move comes in an effort to recover $65 million in losses.
As commodities rise, many people are changing the way they shop.
"I try to buy everything in season," said shopper Esther Kong.
And with the cost of groceries going up, the price of food at restaurants could also be on the rise.
"We want to keep $5 sandwiches but we may have to bite the bullet," said John Paolozzi, of Dirienzo Grocery and Deli in Ottawa.
Economist Ian Lee says oil prices, increasing demand for bio-fuels and lousy weather down south are to blame.
He predicts the higher prices will feed a crisis in developing countries and will also hit Europeans hard. However, he says Canadians spend less of their household budget on food and people living here will likely be able to handle the blow.
With a report from CTV Ottawa's Catherine Lathem
