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September 04, 2024AVERAGE RETAIL PRICES, JULY 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 July change. Comparisons of prices from one time period to another July 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 are the most expensive of meat and seafood products while chicken and pork were less expensive. Nova Scotia's prices for canned tuna, chicken breasts 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 chicken thighs were notably below national averages.
Over the last year (July 2024 vs July 2023), the consumer price index for all items in Nova Scotia excluding food increased by 2.2%. At the same time average weekly earnings across all Nova Scotia industries increased by 7.6%.
Over the last year, prices for chicken breasts, pork shoulder, pork loin and top sirloin of beef all grew faster than average weekly earnings. Several products reported year-over-year price declines in Nova Scotia - particularly beef striploin, bacon, canned tuna and canned salmon.
Dairy and egg prices were generally higher than the national average in Nova Scotia in July 2024 (exceptions: milk in 2 and 1 litre containers).
Compared with July 2023, most reported dairy prices have grown more slowly than average weekly earnings, with the exceptions of eggs and butter. Some products have reported year-over-year declines in prices: margarine, block cheese, yogurt.
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 fresh strawberries, oranges and bananas.
Many fruit prices have fallen in the last year and average weekly wage growth has outpaced all reported fruits. The largest price declines (in percentage terms) were for cantaloupe, lemons and canned peaches.
Almost all reported vegetable prices were higher in Nova Scotia than the national average in July 2024 (exceptions: carrots, cabbage). In percentage terms, the largest gap was for tomatoes.
Average weekly wage growth from July 2023 to July 2024 has outpaced price increases for most reported vegetables (exceptions: frozen french fries, romaine lettuce, onions, potatoes, sweet potatoes, avocados). Several vegetable products reported lower prices over the last year, led by squash and frozen spinach.
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 two kilograms of white rice.
Among prepared foods, condiments, cooking oils, fruit juices and sugar as reported by Statistics Canada, only pasta sauce and mayonnaise were less expensive in Nova Scotia than the national averages in July 2024.
Prices for olive oil have risen sharply in the last year, well outpacing growth in average weekly earnings. Price growth also outstripped wage gains for infant formula, ketchup and orange juize. There were notable year-over-year declines in prices for canola oil, vegetable oil and canned soup.
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 July 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 prices were down most substantially.
Trends (July 2024 vs July 2019)
Food prices have been distorted in recent years by global market conditions following the pandemic and Russia's invasion of Ukraine. Compared with July 2019, prices for many meat products have grown faster than average weekly earnings in Nova Scotia. The exceptions were: meatless burgers, canned tuna, canned salmon, shrimp, bacon, whole chicken, chicken drumsticks, pork (all cuts) and stewing beef.
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 french fries, romaine lettuce, and fresh tomatoes.
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, brown rice, cookies and flatbreads.
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, canola oil, vegetable oil, coffee, apple juice, frozen pizza).
Over the last 5 years, only deodorant prices grew faster than average weekly earnings in Nova Scotia among reported health and cleaning products.
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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