Rising Beef Prices Push Holiday Grocery Bills Higher
With a week to go until Christmas, grocery stores across P.E.I. are filling up — and many shoppers say the cost of putting a holiday meal on the table is noticeably higher than last year.
CTV News compared prices for a cartful of common holiday staples this week with the same period in 2024, using in-store prices and archived online flyers. The comparison shows families are paying more overall, with beef making the biggest dent.
Several shoppers say they’re feeling the squeeze.
“Very expensive this year. The prices have really went up,” said Bonnie McRae, adding that beef is no longer an option for her household.
Others say they’re relying on sales and changing habits to cope.
“I try to buy everything on sale, knowing I’m going to need it in the future,” said Hilary Price, who says she’s baking more at home to keep costs down.
Holiday meal price comparison
University of Guelph food economist Mike von Massow says the jump in beef prices is tied to longer-term supply issues.
“The beef prices we’re experiencing now are kind of a hangover from dry weather in 2021, 2022 and 2023,” he said, noting drought conditions affected parts of Western Canada and the U.S. Midwest. “When the weather is dry, there’s less feed produced, less hay produced, and less grass for the cattle to graze on in the summer.”
Those conditions drove feed costs higher, making it more expensive for farmers to maintain their herds. At the same time, von Massow says relatively low output prices for beef made it harder for producers to absorb those costs, prompting some to scale back.
“It’s going to take some time to rebuild those cow herds,” he said. “That’s what’s causing pressure on the industry right now.”
Von Massow adds that higher grocery bills are forcing many households to make trade-offs this holiday season.
“In some cases people are buying fewer gifts or cheaper gifts,” he said. “And then some people are saying, ‘We’re going to have smaller holiday gatherings.’”
For families trying not to blow their budgets, watching flyers closely, shopping the sales and swapping proteins can help keep costs down this Christmas.
This article was first reported by CTV News
