{"id":8271,"date":"2022-01-02T18:20:22","date_gmt":"2022-01-02T18:20:22","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/prices-rising-whats-going-to-cost-more-in-2022"},"modified":"2022-01-02T19:03:25","modified_gmt":"2022-01-02T19:03:25","slug":"prices-rising-whats-going-to-cost-more-in-2022","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022","title":{"rendered":"Prices Rising: What\u2019s Going To Cost More In 2022"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>As the country continues to recover from the COVID-19 pandemic and ongoing supply chain issues, Canadians are feeling the pinch at the register as prices continue to increase.<\/p>\n

Experts say this is a trend we can expect to see continue well into this year. From homes, to vehicles, to food; here\u2019s a look at what is going to cost more in 2022. FOOD PRICES<\/p>\n

Canadians can expect to pay more for food in 2022.That\u2019s according to the Food Prices Report for 2022, prepared by researchers with Dalhousie University, the University of Guelph, the University of Saskatchewan and the University of British Columbia.<\/p>\n

The report, released in early December, projects that overall, food prices in Canada will increase by five to seven per cent in 2022. Here\u2019s a look at which items will cost more:<\/p>\n

Bakery products are forecast to see price increases between five to seven per cent. Dairy products are forecast to see a price increases between five to seven per cent. Vegetable prices are forecast to increase between five to seven per cent.<\/p>\n

Fruit prices are forecast to increase between three to five per cent.Meat and seafood prices are forecast to increase by up to two per cent. It\u2019ll also cost more to eat out, with the prices at restaurants expected to increase by six to eight per cent.<\/p>\n

Overall, the report suggests that a family of four will have an annual food expenditure of up to $14,767, marking an increase of up to $966 from 2021.<\/p>\n

Food prices will also vary across the country. The report suggests Alberta, British Columbia, Newfoundland and Labrador, Ontario and Saskatchewan are all expected to see above-average food price increases.<\/p>\n

Meanwhile, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and Quebec are all forecast to see below-average food price increases.The authors of the report say in 2022, food insecurity will \u201cbe a big issue as Canadians grapple with rising prices.\u201d<\/p>\n

\u201cFood programs may face increased demand along with higher costs for food, and food retailers may see increase rates of theft,\u201d the report reads. \u201cWe will continue to feel the growing impact of climate change and the continued effect of both transportation and labour market challenges.\u201d<\/p>\n

VEHICLES Canadians can also expect the price for vehicles will be higher, at least into the first half of 2022. In a telephone interview from Michigan with CTVNews.ca, Kevin Roberts director of industry insights and analytics at CarGurus said, while Canadians can expect to see the price will increase for both new and used vehicles, the rate will \u201cslow down\u201d sometime soon.<\/p>\n

Roberts said while it\u2019s \u201ctough to know right now\u201d how much prices will increase, he pointed to data from November. \u201cNew prices were up 6.4 per cent, and are up 25.5 per cent year-over-year,\u201d he said. \u201cSo those are some pretty significant month-on-month gains that we\u2019ve seen over the last couple months.\u201d<\/p>\n

Roberts said, though that vehicle production, which has been constrained by supply shortages, should start to \u201cpick up\u201d again in early December. \u201cThe hope is that as we get to the middle part of 2022, that\u2019ll start to catch up with what demand looks like,\u201d he said. \u201cAnd when that happens, we start to see inventory levels improved, which should hopefully reduce prices slightly.\u201d<\/p>\n

But, Roberts said because vehicle production forecasts change on a monthly basis, it\u2019s too hard to pinpoint exactly when Canadians can expect to see prices drop.<\/p>\n

RETAIL Retail items such as clothes, toys and electronics will also cost more this year. Farla Efros, president, HRC retail advisory, a part of Accenture, said if you go to retail or grocery stores, you will notice a number of empty shelves. Efros said this is due to a \u201clot of pent-up demand.\u201d<\/p>\n

\u201cAnd you\u2019re going to see this carry over towards the end of 2022,\u201d she told CTVNews.ca in a telephone interview from Toronto. \u201cWhich is going to obviously be a struggle for a lot of folks especially the ones that are no longer going to be receiving their CERB cheques.\u201d<\/p>\n

Asked if there will be specific items in the retail sector that Canadians can expect will cost more in 2022, Efros said a lot of prices are going to increase \u201cacross the board.\u201d<\/p>\n

\u201cIt really depends on where you\u2019re sourcing your goods from, so that\u2019s going to be a big impact,\u201d she explained.<\/p>\n

Efros said while supply chain issues continue, if manufacturers are relying on products made outside of Canada, it may become \u201charder and harder\u201d for them to source the goods they need.<\/p>\n

\u201cIt\u2019s going to continue to kind of put the pressure on,\u201d she explained. She said there will likely be a price advantage for made-in-Canada products, meaning they may be more affordable for consumers.<\/p>\n

The price increase on retail goods will likely be felt all across Canada in 2022, Efros said. \u201cI do think it\u2019s going to be across Canada,\u201d she said.\u201d You\u2019re seeing it now, I mean, if you go to the grocery store, it\u2019s fairly obvious that some prices have gone up significantly.\u201d<\/p>\n

Asked how long she expects this trend will continue, Efros said it is dependent on the supply chain, and availability of goods. HOME PRICES House prices in Canada will also continue to rise in 2022.<\/p>\n

A report from the Canadian Real Estate Association published in June said the average home price in Canada is forecast to rise by 0.6 per cent in 2022.<\/p>\n

According to the CREA, the average home price will increase to $681,500 this year. The association said COVID-19 \u201csupercharged trends that were already present\u201d in Canada.<\/p>\n

\u201cWith even stronger first-time home buying activity teaming up with a surge in existing owners choosing to pull up stakes and move to find the right place to ride out the pandemic,\u201d a news release reads. \u201cThis served to drive prices sharply higher while supply fell further to reach all-time lows.\u201d<\/p>\n

However, the association said with vaccination now \u201cwell underway,\u201d the \u201curgency with which so many sought out housing over the last year appears to be fading and the market is settling down, albeit from a very high starting point.\u201d<\/p>\n

The association said while 2021 will \u201calmost certainly\u201d be a record year for home sales in Canada, 2022 is expected to see \u201csignificantly fewer MLS transactions.\u201d<\/p>\n

\u201cIt is nonetheless still expected to mark the second-best year on record for Canadian home sales,\u201d the release reads. According to CREA, national home sales are forecast to fall by 13 per cent, to around 594,000 units in 2022. GAS PRICES<\/p>\n

Gas prices will \u201cabsolutely, without a doubt\u201d be higher in 2022, Roger McKnight, chief petroleum analyst with En-Pro International Inc., told CTVNews.ca.<\/p>\n

In a telephone interview from Toronto, McKnight said he suspects gas prices will be higher because \u201cof the tax structure being introduced or promoted by the federal government.\u201d<\/p>\n

McKnight pointed to the federal carbon tax that is set to come into effect in April of 2022. \u201cAnd that\u2019ll increase prices by three cents a litre,\u201d he said. Further, McKnight said if the federal government greenlights the clean fuel standard, gas prices will jump \u201castronomically.\u201d<\/p>\n

\u201cI think from now to the end of the year, people are going to get very nervous about going out on the road because prices are going to increase rapidly,\u201d he said. \u201cThis is because the recovery from the pandemic was much quicker economically than it was anticipated, so demand is far outstripping supply in so far as gasoline or diesel or crude is concerned.\u201d He said unless we cut back on demand, prices likely won\u2019t fall for \u201cquite a while.\u201d \u201cAnd it\u2019s going to be a very, very, rough time indeed,\u201d he said.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. As the country continues to recover from the COVID-19 pandemic and ongoing supply chain issues, Canadians are feeling the pinch at the register as prices continue to increase. Experts say this is a trend we can expect to see continue well into this year. From homes, to vehicles, to food; here\u2019s a […]<\/p>\n","protected":false},"author":84,"featured_media":8270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9],"tags":[3320,2355,2361,260,3763],"class_list":["post-8271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-3320","tag-africa-press","tag-africa-press-gambia","tag-gambia","tag-prices-rising"],"yoast_head":"\nPrices Rising: What\u2019s Going To Cost More In 2022 - Gambia<\/title>\n<meta name=\"description\" content=\"As the country continues to recover from the COVID-19 pandemic and ongoing supply chain issues, Canadians are feeling th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prices Rising: What\u2019s Going To Cost More In 2022\" \/>\n<meta property=\"og:description\" content=\"As the country continues to recover from the COVID-19 pandemic and ongoing supply chain issues, Canadians are feeling th ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-02T18:20:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-02T19:03:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/01\/img-61d1f6b341f86.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1020\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Prices Rising: What\u2019s Going To Cost More In 2022\",\"datePublished\":\"2022-01-02T18:20:22+00:00\",\"dateModified\":\"2022-01-02T19:03:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\"},\"wordCount\":1293,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/01\/img-61d1f6b341f86.jpg\",\"keywords\":[\"2022\",\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\",\"Prices Rising\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/prices-rising-whats-going-to-cost-more-in-2022\",\"name\":\"Prices Rising: What\u2019s Going To Cost More In 2022 - 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