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Bank of Canada Governor Tiff Macklemcpac / YouTube

(LifeSiteNews) — Food prices in Canada are shooting up amid ongoing “climate” taxes and regulations imposed by Prime Minister Justin Trudeau’s federal government. 

According to a September 5 report by Statistics Canada obtained by Blacklock’s Reporter, food prices are rising faster than the headline inflation rate – the overall inflation rate in the country – as staple food items are increasing at a rate of 10 to 18 percent year-over-year.

“We have been surprised,” Bank of Canada Governor Tiff Macklem said.

“Meat’s up six percent, bread’s up 13 percent, coffee’s up eight percent, baby food’s up nine percent,” he added. “If you look at food overall it is up nine percent.” 

Acknowledging the persistent nature of inflation, Macklem dismissed the idea of cutting interest rates, which are currently at their highest rate in 22 years. “It is clearly too early to be talking about interest rate cuts,” said Macklem. “We are certainly trying to balance the risks.” 

According to the Bank of Canada’s last Monetary Policy Report, an inflation rate of two percent – the Bank of Canada’s target rate – is not expected until “the middle of 2025.” 

“Further easing of inflation will take longer than expected in previous reports,” the Bank of Canada said.

Average checkout prices in July revealed that hamburger costs went from $10.64 per kilogram to $11.19 per kilogram, a five percent increase, while the Consumer Price Index (CPI) – the tool employed by economists to measure overall inflation in the economy – was only 3.3 percent. This means that while overall inflation may be relatively close to the 2 percent target, many essential goods, such as food, are not.

The report further revealed that the following food have increased drastically in the past year:  

  • 10 percent more for butter from $5.72 per 454 grams to $6.27;
  • 10 percent more for eggs from $4.29 per dozen to $4.71;
  • 10 percent more for oranges from $5.75 per 1.36 kilogram bag to $6.35;
  • 10 percent more for potatoes from $5.24 per 4.5 kilogram bag to $5.75;
  • 15 percent more for romaine lettuce from $2 per head to $2.30;
  • 16 percent more for margarine from $6.56 per 907 gram tub to $7.61;
  • 17 percent more for peanut butter from $5.31 per kilogram to $6.19;
  • 18 percent more for apple juice from $3.23 per two litre jug to $3.80;
  • 33 percent more for celery from $2.78 per bunch to $3.70.

On September 7, Macklem told Canadians that the Bank of Canada may raise interest rates further as he believes inflation is likely to stay high for some time.  

“In trying to balance the risks of under- and over-tightening, the governing council decided yesterday to keep the policy rate at five per cent and agreed there may be a need to raise the policy rate further if inflationary pressures persist,” Macklem said. 

While clearly admitting the Canadian economy is in peril, Macklem denied the nation is experiencing a recession, saying, “I don’t think a couple of very small negatives are what most people think of when they think of a recession. It’s not a big contraction in output. It’s not a large rise in unemployment.” 

Despite numerous reports indicating Canadians are experiencing financial hardship, the Trudeau government has largely ignored the pleas of those asking for help, while consistently denying their policies have any impact on inflation or the economy more broadly.

Deputy Prime Minister and Finance Minister Chrystia Freeland recently refused Newfoundland and Labrador’s appeal to pause clean fuel regulations and reduce the carbon tax as Maritimers struggle to make ends meet.   

Similarly, despite persistent inflation and the consequent rise in interest rates, Trudeau introduced his second carbon tax in July.

“Canadians need another carbon tax like we need a kick in the head,” said Franco Terrazzano, who serves as the federal director of the Canadian Taxpayers Federation (CTF) in a press release.

“The Parliamentary Budget Office is clear: Trudeau’s second carbon tax will cost families hundreds of dollars.” 

The Trudeau government’s current environmental goals – which are in lockstep with the United Nations’ “2030 Agenda for Sustainable Development” – include phasing out coal-fired power plants, reducing fertilizer usage, and curbing natural gas use over the coming decades. 

The reduction and eventual elimination of so-called “fossil fuels” and a transition to unreliable “green” energy has also been pushed by the World Economic Forum (WEF) – the globalist group behind the socialist “Great Reset” agenda in which Trudeau and some of his cabinet are involved. 

However, some western provinces have declared they will not follow the regulations but instead focus on the wellbeing of Canadians.  

Both Alberta and Saskatchewan have repeatedly promised to place the interests of their people above the Trudeau government’s “unconstitutional” demands, while consistently reminding the federal government that their infrastructures and economies depend upon oil, gas, and coal.   

“We will never allow these regulations to be implemented here, full stop,” Alberta Premier Danielle Smith recently declared. “If they become the law of the land, they would crush Albertans’ finances, and they would also cause dramatic increases in electricity bills for families and businesses across Canada.”     

Saskatchewan Premier Scott Moe has likewise promised to fight back against Trudeau’s new regulations, saying recently that “Trudeau’s net-zero electricity regulations are unaffordable, unrealistic and unconstitutional.”   

“They will drive electricity rates through the roof and leave Saskatchewan with an unreliable power supply. Our government will not let the federal government do that to the Saskatchewan people,” he charged.