Canadians have long crossed the border to fill their carts with grocery items exclusive to Trader Joe's, but how do prices compare in Canada?

I was in Chicago recently to visit family and friends, and while the city offers several must-see attractions like The Bean and the Field Museum, my must-see spot was Trader Joe's.

Beloved nationwide (and internationally), Trader Joe's has a massive cult following. Online, people share food hacks and hauls of seasonal offerings. It was first established as a neighbourhood grocery store in California in 1967 and now has hundreds of locations across the U.S. 

Despite its expansion, the stores have retained a neighbourhood grocery vibe. They have a much smaller footprint than supermarket chains, and rather than having half an aisle of yogurt options, you're likely to find just a handful of Trader Joe's branded flavours. And for shoppers, that works out fine if it means keeping costs down.

"We buy direct from suppliers whenever possible; we bargain hard to get the best price and then pass the savings on to you," states the company website. "Most grocers charge their suppliers fees for putting an item on the shelf. This results in higher prices... so we don't do it."

The value of the Canadian dollar south of the border is at its lowest in years, and Canadians shopping in the U.S. will certainly feel the pinch. As of writing, according to the latest exchange rate on XE.com, one American dollar equals CAD $1.38. Also, according to software company TaxCloud, the combined sales tax in Chicago is 10.25 per cent.

Given the current exchange rate, is shopping at Trader Joe's still a cost-effective option for border-crossing Canadians? To find out, I chose several essential grocery items and compared them to Walmart Canada.

Here's what it's like to browse the aisles at Trader Joe's and how prices compare.

Organic bananas

Trader Joe's: $0.29 USD ($0.40 CAD) each
Walmart Canada: $0.52 CAD each

Strawberries

Trader Joe's: $6.99 USD ($9.67 CAD) for two pounds or CAD$4.83 per pound
Walmart Canada: $4.97 CAD per pound

Lemons

Trader Joe's: $0.49 USD ($0.67 CAD) each
Walmart Canada: $0.77 CAD each

Sweet onions

Trader Joe's: $3.99 USD ($5.52 CAD) for two pounds or CAD$2.76 per pound
Walmart Canada: $3.97 CAD for three pounds or CAD $1.32 per pound

Cauliflower

Trader Joe's: $2.99 USD ($4.13 CAD) each
Walmart Canada: $3.47 CAD each

Eggs

Trader Joe's: $2.49 USD ($3.44 CAD) per dozen
Walmart Canada: $3.93 CADper dozen

Chicken breast

Trader Joe's: $5.99 USD ($8.29 CAD) for four pieces
Walmart Canada: $14 CAD for four pieces (Note: Both stores have different ways of pricing chicken breasts — Trader Joe's is based on weight, while Walmart Canada prices its chicken breast per piece.)

Ground beef

Trader Joe's: $11.99 USD ($16.60 CAD) per pound or $36.52 CAD per kilo
Walmart Canada: $23.97 CAD (average) for 1.2 to 1.5 kilos

Fresh Atlantic salmon

Trader Joe's: $9.99 USD ($13.83 CAD) per pound
Walmart Canada: $19.79 CAD average) for 0.4 to 0.55 kg or $16.33 CAD per pound

Milk

Trader Joe's: $3.79 USD ($5.24 CAD) per gallon or $1 CAD per litre
Walmart Canada: $6.68 CAD for four litres or $1.67 CAD per litre

Yogurt

Trader Joe's: $0.99 USD ($1.37 CAD) per 150 grams or $0.91 CAD per 100 grams
Walmart Canada: $4.28 CAD, or $1.07 CAD per 100 grams

Butter

Trader Joe's: $3.99 USD ($5.52 CAD) for 453 grams or $1.21 per 100 grams
Walmart Canada: $5.88 CAD for 454 grams or $1.30 per 100 grams

Shredded cheese

Trader Joe's: $3.99 USD (C$5.52) per 340 grams or $1.62 CAD per 100 grams
Walmart Canada: $7.67 CAD per 320 grams or $2.39 CAD per 100 grams

Potato chips

Trader Joe's: $3.99 USD ($5.52 CAD) per 454 grams or $1.21 CAD per 100 grams
Walmart Canada: $1.37 CAD per 200 grams or $0.69 CAD per 100 grams

Jasmine rice

Trader Joe's: $3.29 USD ($4.55 CAD) per 1.36 kilos or $3.35 CAD per kilo
Walmart Canada: $3.47 CAD per 900 grams or $3.86 CAD per kilo

Almond milk

Trader Joe's: $1.99 USD ($2.75 CAD) per 946 millilitres or $0.29 CAD per 100 millilitres
Walmart Canada: $2.27 CAD per 946 millilitres or $0.24 CAD per 100 millilitres

Instant coffee

Trader Joe's: $4.49 USD ($6.21 CAD) per 99 grams or $6.27 CAD per 100 grams
Walmart Canada: $4.97 CADper 200 grams or $2.49 CAD per 100 grams

Whole grain bread

Trader Joe's: $2.99 USD ($4.13 CAD) per 624 grams or $0.66 CAD per 100 grams
Walmart Canada: $3.77 CAD per 600 grams or $0.63 CAD per 100 grams

Orange juice

Trader Joe's: $4.99 USD ($6.90 CAD) per 1.53 litres or $0.45 per CAD 100 milliliters
Walmart Canada: $4.78 CAD per 1.75 litres or $0.27 CAD per 100 milliliters

Crunchy peanut butter

Trader Joe's: $2.49 USD ($3.44 CAD) for 454 grams or $0.75 CAD per 100 grams
Walmart Canada: $4.27 CAD for 1 kilo or $0.42 CAD per 100 grams

Instant noodles

Trader Joe's: $4.99 USD ($6.90 CAD) per 453 grams or $1.52 CAD per 100 grams
Walmart Canada: $3.97 CAD per 1.02 kilos or $0.38 CAD per 100 grams

WINNER: Even with the exchange rate, most items were cheaper at Trader Joe's than at Walmart Canada.

Out of 21 grocery items on the list, 10 were more pricey at Trader Joe's, some of which included instant noodles, peanut butter, coffee, and orange juice. Although some items were on par with Walmart prices, the price difference was quite significant in some cases. For example, cheese, butter, yogurt, and milk are consistently more expensive in Canada.

According to the Bank of Canada, inflation has now fallen to around 2 per cent; similarly, according to the Federal Reserve System, inflation in the U.S. dropped to around 2 per cent in September.

There are also other factors to consider.

According to the U.S. Department of Labour, the federal minimum wage is U.S.$7.25 (CAD $10.03). B.C. has the highest hourly minimum wage among all Canadian provinces at CAD $17.40 per hour, while Nunavut pays the highest rate among all territories at CAD $19 per hour.