
Loblaw expects higher produce prices as region ramps up Buy BC, agriculture efforts
CHILLIWACK — A Loblaw’s Food Inflation report released Thursday (Feb. 27) has brought up some relief and anxiety for the coming months. The report says food inflation has been cooling across Canada thanks to the GST holiday’s effect on grocery chains and restaurants, but the U.S.-Canada tariff yo-yo could ignite some big price swings again.
The grocery giant is particularly concerned about the weak Canadian dollar, which has hit some of its lowest values in roughly 20 years. The impact of this will be more noticeable during the winter months when USD-valued imports make up the bulk of coffee, olive oil and fresh produce goods, like lettuce and tomatoes.
This isn’t news to the B.C. government, though. The Province has been ramping up its Buy BC campaign, and in the Fraser Valley, companies like Delta-based Windset Farms are now working to replace U.S. tomatoes while using renewable energy sources.
