Maple Leaf Foods Inc. said Wednesday that consumers should expect to see higher prices for their meat and bread products starting next year, due to the rising costs of getting those items onto shelves.
The Toronto-based meat and bakery company, which also reported weaker third quarter earnings, outlined plans to raise its prices in the first quarter of 2013 due to higher raw materials costs.
In the bakery division, “we continue to face higher inflationary costs, as well as projected increases in flour and dairy raw material costs,” said president and CEO Michael McCain.
“We expect to pass on (higher) pricing in the first quarter of next year.”
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