‘Where does this all end?’: High fuel and food costs here for a while, experts warn

Maritimers are seeing a slight lower on the fuel pumps this week, with costs dropping by about 2.3¢ per litre.

However with gasoline costs hitting document highs lately and meals prices climbing, persons are nonetheless feeling the pressure.

“It’s undoubtedly been creeping up for some time now and adjustments the best way that I drive,” says motorist Cliona O’Brien. “I do dwell 30 kilometres out of city, so I undoubtedly attempt to group issues collectively once I’m heading into city.”

“With inflation and the whole lot that’s rising in worth, from meals to fuel, now I’m listening to cheese and milk are going to go up, and oil costs simply to warmth your private home,” says Jon Kester, who additionally crammed up on the pumps Friday.

“It makes you surprise the place does this all finish?”

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Throughout Nova Scotia, the minimal worth for normal fuel ranges from $1.41.5 per litre to $1.43.5.

In New Brunswick, the most worth for normal is $1.49.2.

Learn extra:
Why sky-high gas prices in N.S., N.B. could be here to stay

Analyst Dan McTeague, the president of Canadians for Reasonably priced Vitality, says we would see one other lower subsequent week, however the winter gained’t be pleasant.

“I feel we’re going to be taking a look at testing these document costs we set final month,” he says, “so again within the middle-to-upper $1.40s, probably hitting a $1.50.”

And he’s undecided when the tip will likely be, pointing to Nova Scotia’s cap-and-trade program and the carbon tax in New Brunswick, each including on to the price of fuel.

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However it’s not simply fuel. Groceries are additionally costing extra as of late.

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Dalhousie College’s Sylvain Charlebois says many animal proteins are up by double-digit proportion will increase because the begin of the yr.

“Beef is up greater than 15 per cent, hen 13 per cent, pork as nicely, eggs are up 8-13 per cent as nicely,” he says.

Learn extra:
Canada’s inflation rate hits 4.4% in September, highest level since 2003

Charlebois says dairy merchandise “may truly go up by as a lot as 15 per cent within the new yr” additionally, in response to the Canadian Dairy Commission’s recommendation earlier this week of an 8.4 per cent improve in farm gate milk costs.

“I’d say proper now we’re within the second inning of a baseball recreation. We’re simply firstly,” says Charlebois, the director of the college’s Agri-food Analytics Lab.

“I feel issues will get rocky over the following few minutes till most likely the start of spring of 2022.”

He suggests following flyers and ‘take pleasure in tonight’ offers.

Regardless, it creates challenges for a lot of, particularly with a current report suggesting the price of residing in Halifax is about $10 more than the minimum wage.

Click to play video: 'Consumer Matters: Canadians buying more discount grocery items than 2020'

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Shopper Issues: Canadians shopping for extra low cost grocery objects than 2020 – Oct 6, 2021

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