Higher prices are in store for Canadian grocery shoppers next year, especially for meat, seafood and vegetables.

According to the University of Guelph’s Food Institute, consumers can expect food prices to grow faster than the rate of inflation.

The 2015 Food Price Report forecasts food prices overall will rise up to 2.4 per cent.

The Food Institute’s predictions for price increases are:

  • Meat 3.0 to 5.0 per cent
  • Fish & Seafood 3.0 to 5.0 per cent
  • Dairy & Eggs -1.0 to 1.0 per cent
  • Grains 0 to 2.0 per cent
  • Fruit & Nuts 1.0 to 3.0 per cent
  • Vegetables 3.0 to 5.0 per cent
  • Food from Restaurants 1.0 to 3.0 per cent
  • Overall Food Expenditures up 0.3 to 2.4 per cent

Supply and demand contributed to meat prices skyrocketing 12.4 per cent over last year.

A virus that spread through Canadian piglets drove bacon prices up 25 per cent.

The report points to droughts in California and Brazil as a factor for costly veggies.

Currency plays a part too.

As our dollar goes down, so does our buying power for all the foods we import.

The report expects little change in the price of grains, dairy and eggs.