Expect Food Prices To Remain High

A food professor at Dalhousie University says we better get used to higher food prices.

 

"This year we were already expecting a high food inflation rate, back in December for 2020. That's not going to change," said Dr. Sylvain Charlebois. "The problem is that the general inflation rate is going to be very low, so 4% will probably feel more like a 10%. It's good news for people who want to stay home and cook because you'll save money but it's bad news for people who will likely go back to their old ways, go out to the restaurant because you're probably going to be spending way more than before."

 

Charlebois notes on the supply side, COVID-19 is making everything more expensive, adding new cleaning protocols, higher salaries, and building infrastructure for e-commerce will all cost more.

 

On the flip side, he adds each household in Canada is saving approximately $5 a day by cooking at home and avoiding restaurants.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.