Price of Pot – The Legal Variety – Up 17 Percent Since October

Lack of supply partly to blame

It didn’t take long for the law of supply and demand to impact the price of legal pot.

A Stats Canada survey has found the cost of recreational pot – bought legally – has climbed from an average $6.83 per gram to just over $8 – an increase of more than 17 percent.

The price from illegal suppliers is about $6.50 for a gram.

It’s not just a lack of supply driving up the price. Taxes account for some of the increase, as well as a lack of competition.

The survey also found legalization has prompted more people to partake –  7.7 percent of respondents said they had purchased cannabis for the first time. Two-thirds first-time buyers purchased from legal sources.