Prince George, B.C. – As is always the case with our falling dollar, there are some positives and negatives that come along with it.

Here’s the breakdown, starting with the positives:

“If you’re an exporter it’s good news,” says University of Northern British Columbia economics professor Dr. Paul Bowles. “If you’re trying to sell tourism packages to American tourists, it’s very cheap for them to come here now, or European tourists.”

He says a low dollar also benefits post-secondary institutions. “International students are finding it quite nice too.”

Then there’s the price at the pump, with Prince George enjoying some of the cheapest gas in the province at around the 80 cents a litre mark.

As for the negatives of a low loonie, one area consumers are noticing it the most is when it comes to the price of food.

In fact a recent study out of Guelph University in Ontario reports a 2% to 4% increase on food prices. See the breakdown below:

Meats – 2.5% to 4.5%
Fish and seafood – 1% to 3%
Dairy and eggs – 0% to 2%
Grains – 0%-2%
Fruits and nuts – 2.5% to 4.5%
Vegetables – 2% to 4%
Food from restaurants – 1.5% to 3.5%

You’ll also notice a jump in prices when you hit the flower shop this coming Valentine’s Day.

“It (falling dollar) really does affect the overall cost because everything if it can’t be grown in greenhouses in Vancouver is imported,” says Monica Peacock, owner of The Inn Flower Place.

“And imports are always more money and are affected by the dollar. It doesn’t mean we’re not going to order in the most beautiful amount that we can for our dollar, it just means that we have to structure our sales to accommodate that 30% difference in the dollar.”

Then there’s the effect it will have on the price of new cars.

“Ultimately over time many vehicles that dealers have on their lots are priced when they buy them in U.S. dollars no matter where they come from and so of course as the Canadian dollar continues to drop you’ll likely see some impact on price of vehicles. It won’t happen right away but as time goes by you’ll see impacts,” said Blair Qualey, president of the New Car Dealers Association earlier this week.

It’s not all doom and gloom though. Ben Klassen, owner of Homesteader Meats, confirms the price of beef is way up, but notes “the prices have been holding pretty steady on the pork and chicken, which people are gravitating too.”

The low dollar has also had an effect on travel.

“We have noticed a trend towards clients booking non-US destinations and in booking more all inclusive resorts which provide more value for our Canadian dollar,” says Sharon Middlehurst with UNIGLOBE travel in Prince George.

As for how long it will take the dollar to recover, Bowles says it’s hard to say.

“What’s driving the Canadian dollar is that Canada is heavily a commodity country, the price of oil goes down, our dollar goes down with it,” he says.

“So when the price of oil was up around $100 dollars a barrel, the loonie was right at par with the U.S. dollar and some times higher than the U.S. dollar, but with the collapse in oil prices comes the collapse of the dollar.

“Over the next six months, we’re not going to see much recovery.”