It’s no secret in Canada that food prices, especially meat, are sky-high, but Costco’s expensive beef packs are once again causing controversy online.
In a post to
It was discovered by a friend at a Costco in Alberta. pic.twitter.com/UjmesdDo6k
— Warren Kinsella (@kinsellawarren) December 14, 2023
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Now, prime rib is a very nice cut of beef, and its price of $54.99 per kilogram at Costco is slightly higher than it actually is. Now available at Superstores in Alberta The same cut costs $57.30 per kilogram.
Still, rising prices have reignited Canadian demand for beef in grocery stores, with many expressing their displeasure in the comments.
When you add everything up, it’s cheaper to go to a restaurant here and order a steak dish.
— Hal Roberts
(@Hal__Roberts) December 14, 2023
Only land developers, grocery store chain owners, media personalities, and politicians can afford such prices.
— Simon Chamberfield (@SChamberfield) December 14, 2023
The date doesn’t matter, you can’t afford one of them, much less just three. If you try this tonight, please let me know how it goes. I forgot what steak tastes like.
— Gray
(@MiSi67100) December 14, 2023
In the summer, Reddit users in British Columbia also took note of the high price of steak, which at the time cost $45.99 per kilogram for a pack of prime rib.
Daily Hive contacted Costco about the price of the steaks, but did not receive a response at the time of publication.
Grocery costs continue to rise
While many Canadians continue to struggle to keep up with high food prices, Canadian grocery stores are expected to post record profits in 2023.
this is According to a new report From Center for Future Work released on December 10th.
The report notes that record profit levels for food retailers contrast with profits for food manufacturing and input industries (such as energy) that supply the food retail sector.
Additionally, although food inflation has slowed over the past year, it is still higher than overall inflation. Food prices rose by 5.6% in the first nine months of 2023, compared with the general inflation rate of 3.1%, the report said.
And it looks like Canadians won’t be able to stop spending on groceries in 2024.
The 2024 Canadian Food Price Report, released last week by Canada’s top universities, predicts that overall food prices will rise between 2.5% and 4.5%.
This means the average Canadian family of four is expected to spend $16,297.20 on food in 2024, which is up to $701.79 more than last year.
With files from Isabelle Docto and DH National Trending Staff
