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October 02, 2024AVERAGE RETAIL PRICES, AUGUST 2024 Statistics Canada makes available scanner data on prices collected for a range of food and personal care items. These prices are collected through point-of-sale (transaction) data obtained directly from Canadian retailers. The data represent commonly purchased items (which do change over time), but are not representative of the Consumer Price Index weights. Over time, products are rotated and quantity or quality may change. Comparisons of prices from one time period to another August reflect quantity and quality changes as well as price changes.
For the purposes of this analysis, the 110 items reported by Statistics Canada will be grouped into:
- Meat, fish, poultry and meat substitutes
- Dairy, eggs and substitute products
- Fruit (including canned and frozen products)
- Vegetables (including canned and frozen products)
- Grains, cereals, beans, legumes and nuts
- Sugar, juices, cooking oils, condiments and prepared foods
- Health and cleaning products
Beef and salmon were the most expensive of meat and seafood products while chicken and pork were less expensive. Nova Scotia's prices for chicken drumsticks, canned tuna, canned salmon, and meatless burgers had the largest percentage price premiums compared to the national average. Nova Scotia's prices for certain beef products (stewing, rib cuts, ground) as well as pork loin and whole chickens were notably below national averages in August.
Over the last year (August 2024 vs August 2023), the consumer price index for all items in Nova Scotia excluding food increased by 0.8%. At the same time average weekly earnings across all Nova Scotia industries increased by 7.4%.
Over the last year, prices for chicken drumsticks and thighs, as well as beef rib and stewing cuts all grew faster than average weekly earnings. Several products reported year-over-year price declines in Nova Scotia - particularly beef striploin and top sirloin, shrimp, and canned tuna and canned salmon.
Dairy and egg prices were generally higher than the national average in Nova Scotia in August 2024 (exceptions: milk in 2 and 1 litre containers, butter, soy milk).
Compared with August 2023, most reported dairy prices have grown more slowly than average weekly earnings, with the exceptions of eggs. Average prices declined year-over-year for margarine and nut milk.
Prices for reported fruits in Nova Scotia were all higher than the national average for similar products with the exception of frozen strawberries. The largest gaps (in percentage terms) were for limes, cantaloupe, oranges and bananas.
Many fruit prices have fallen in the last year. Average weekly wage growth has outpaced growth in average prices for all reported fruits except grapes. The largest price declines (in percentage terms) were for lemons and canned peaches.
Almost all reported vegetable prices were higher in Nova Scotia than the national average in August 2024 (exceptions: carrots). In percentage terms, the largest gap was for peppers.
Average weekly wage growth from August 2023 to August 2024 has outpaced price increases for most reported vegetables (exceptions: peppers, romaine lettuce, potatoes, and avocados). Several vegetable products reported lower prices over the last year, led by frozen spinach and broccoli.
Nova Scotia prices for grain, cereal, nut, bean and legume products were higher than the national averages for all reported products except peanuts and tofu.
Over the last year, average weekly wages have grown faster than prices for all reported grain, cereal, nut, bean and legume products except dried lentils. Many grain, nut, bean and cereal prices fell in Nova Scotia over the last year, with the largest decline in the price of dry or fresh pasta.
Among prepared foods, condiments, cooking oils, fruit juices and sugar as reported by Statistics Canada, prices in Nova Scotia exceeded the national averages in August 2024 for all products.
Several prepared products had price growth faster than growth in average weekly earnings, with notable increases for orange juice, olive oil, canned soup and infant formula. There were notable year-over-year declines in prices for canola oil, vegetable oil and baby food.
Of all products reported by Statistics Canada, infant formula (900 grams) has the highest transaction price based on the volume chosen. Nova Scotia infant formula prices were slightly higher than the national average in August 2024.
Prices for health/cleaning products were higher in Nova Scotia than the national average, with the exception of shampoo.
Over the last year, prices for health and cleaning products were mostly down (exception: deodorant). Laundry detergent and toothpaste prices were down most substantially.
Trends (August 2024 vs August 2019)
Food prices have been distorted in recent years by global market conditions following the pandemic and Russia's invasion of Ukraine. Compared with August 2019, prices for many meat products have grown faster than average weekly earnings in Nova Scotia. The exceptions were: meatless burgers, seafood, wieners, bacon, whole chicken, pork (shoulder and loin) and beef ribs.
Over the last 5 years, the prices of eggs, margarine and butter have all grown faster than average weekly earnings.
Over the last 5 years, most reported fruit prices have not grown as quickly as average weekly earnings (exceptions: fresh strawberries, oranges, canned pears, grapes).
Over the last 5 years, vegetable prices have outpaced wage growth for the following products: canned corn, canned tomatoes, frozen broccoli, frozen french fries, peppers, iceberg lettuce, and avacados.
Over the last 5 years, prices for many reported grain, cereal, bean, legume and nut products have outpaced growth in average weekly earnings (exceptions: sunflower seeds, peanuts, almonds, dry beans/legumes, canned beans/lentils, wheat flour, white rice, cookies, crackers and white bread).
Over the last 5 years, prices for most reported foods in this category grew faster than average weekly earnings (exceptions: hummus, peanut butter, baby food, coffee, apple juice, and frozen pizza).
Over the last 5 years, prices of reported health and cleaning products have declined or grown slower than average weekly earnings in Nova Scotia.
Source: Statistics Canada. Table 18-10-0245-01 Monthly average retail prices for selected products; Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted; Table 14-10-0063-01 Employee wages by industry, monthly, unadjusted for seasonality
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