It’s no secret to Canadians that the cost of groceries is through the roof, especially when it comes to meat, but the cost of a package of beef at Costco is causing a stir online.
In a post to X, Warren Kinsella, a Canadian lawyer and political commentator, uploaded a photo of prime rib grilling steaks priced at a whopping $91.72, claiming to be at an Alberta Costco location.
Spotted by a friend at a Costco in ALBERTA. pic.twitter.com/UjmesdDo6k
— Warren Kinsella (@kinsellawarren) December 14, 2023
Now, prime rib is a very nice cut of beef, and the price of $54.99 per kilogram at Costco is slightly less than what Alberta Superstore locations are selling the same cut for, at $57.30 per kilogram.
Still, the sky-high prices are reigniting Canadians’ beef with grocery stores, with many expressing their displeasure in the comments.
When you add everything up it is cheaper to go out to a restaurant here and order a steak meal.
ā Hal Roberts šØš¦ š (@Hal__Roberts) December 14, 2023
Only land developers, grocery chain owners, media personalities and politicians can afford those kinds of prices.
ā simon chamberfield (@SChamberfield) December 14, 2023
Doesnāt matter about the date, I canāt afford one of them, let a lone three. If youāre eating these tonight let us know how they were, I forgot what steak tastes like.
ā Grey šø (@MiSi67100) December 14, 2023
In the summer, a Reddit user in BC also took note of high steak prices, with a pack of boneless rib grilling steaks being sold for $45.99 per kilogram.
Daily Hive reached out to Costco regarding the price of the steaks but has not heard back at the time of publication.
Grocery bills continue to rise
While many Canadians continue to struggle to keep up with the high cost of groceries, Canada’s grocers are expected to rake in record-high profits in 2023.
This isĀ according to a new reportĀ from the Centre for Future Work released on December 10.
The report notes that the record profit levels of food retailers are in contrast to the profits of food manufacturing and input industries (such as energy) that supply the food retail sector.
Additionally, food inflation has slowed over the past year but is still higher than overall inflation. The report states that food prices rose by 5.6% during the first nine months of 2023, compared to the general inflation of 3.1%.
And it seems like Canadians won’t be able to catch a break on grocery spending in 2024.
Canada’s Food Price Report 2024, published last week by Canada’s top universities, predicts that overall food prices will increase by 2.5% to 4.5%.
This means the average Canadian family of four is expected to spend $16,297.20 on food in 2024, an increase of up to $701.79 from last year.
With files from Isabelle Docto and DH National Trending Staff
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