Rising grocery costs hit families hard

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This article was published 16/08/2023 (1158 days ago), so information in it may no longer be current.

The cost of living in Brandon has taken a noticeable toll on local residents as the prices of food items and groceries continue to climb, straining family budgets and affecting the financial well-being of individuals. Shoppers and experts alike are raising concerns about the implications of these rising costs in the face of a broader economic phenomenon — inflation.

One frequent shopper at local grocery stores, Kemi Omole, shared her frustration with the increasing prices.

“The cost of groceries has appreciated significantly in the past six months,” Omole told the Sun. “I remember buying a pack of eggs from the organic section at the Real Canadian Superstore for $12, but this has now gone up to $15. For a family with growing kids, it has become tougher to feed them wholesome and nutritional foods.”

Omole’s sentiments were echoed by Evelyn Okoh, another Brandon-based shopper, who highlighted the escalating costs of staple foods like Basa Steak fish.

“The price of Basa Steak fish has gone up from $7 to $9.49,” Okoh said. “This is really affecting my finances, as I cannot save as much as I had planned.”

Another Brandon resident, Nelson John, explained how these price increases ripple through family budgets.

“When inflation is up, the cost of almost everything will be affected,” John emphasized. “I have had to increase my family’s budget on groceries from $300 to $550, as we can’t compromise on the number of items we buy monthly due to our growing children. Additionally, the costs of back-to-school items have surged, impacting our savings as a family every month.”

The recent data supports the concerns raised by these shoppers. According to chartered accountant Samuel Adeniji, inflation is not just a macroeconomic concern; it has tangible effects on individual finances.

“Beyond affecting the economy of a nation, inflation also affects individuals’ finances,” Adeniji explained. “One of the first effects of inflation is that it reduces your purchasing power.”

As prices rise across the board, the value of money diminishes, leading to a reduced ability to afford the same goods and services.

Adeniji pointed out that this leads to alterations in spending habits, an increased need for savings, and potential difficulties in achieving financial goals.

Highlighting the multi-dimensional effects of rising food costs, City of Brandon economic development director Gerald Cathcart told the Sun that “inflation in groceries raises questions of security and exacerbates food insecurity issues, particularly among our vulnerable populations. Limited-income individuals can struggle to afford a nutritious diet, which can have significant consequences.”

Brandon Chamber of Commerce president Jamie Pugh illuminated the perspective of businesses toward inflation.

“For businesses, inflation poses concerns about declining margins and profits,” Pugh noted. “Costs associated with inflation, such as reprinting menus in the restaurant industry, add to the overall impact on businesses.”

Pugh also acknowledged the challenges faced by individuals on fixed incomes, emphasizing that rising prices can disrupt budgeting efforts.

Offering a community-oriented perspective, Samaritan House executive director Barbara McNish disclosed the organization’s efforts to alleviate the effects of rising costs on vulnerable individuals.

“At Samaritan House, we provide monthly hampers that allow people to choose the items they need, reducing food waste and providing choice,” McNish told the Sun. “Our numbers are increasing, and more people are turning to us for support due to the rising cost of food.”

McNish said that Samaritan House provided 2,820 hampers in July, a decline from the 3,244 in June. She noted that the summer season and holidays may have contributed to the decrease, but she anticipated an increase in August due to back-to-school expenses. She added that the food provided is free of charge and stressed the organization’s commitment to reducing reliance on food banks in the long run.

In Canada, inflation has surged, with the annual rate reaching 3.3 per cent in July, up from 2.8 per cent the previous month, according to Statistics Canada.

Manitoba’s rate also witnessed an increase of 2.6 per cent between July 2022 and July 2023, as its consumer price index increased from 155.3 to 159.3.

Gasoline prices, a major contributor to the inflation rate, have experienced an upswing after a year of decline. The price of electricity has also soared, posing a challenge for households.

» aodutola@brandonsun.com

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