An annual report that looks at food prices across the country predicts some relief for consumers in 2024.
“The estimated increase of 2.5–4.5 percent for 2024 provides customers with much-needed relief from the higher increases observed in previous years,” says Stuart Smyth, chair of Agri-Food Innovation and Sustainability Enhancement at the University of Saskatchewan.
The report is the product of a partnership between researchers at Dalhousie University, the University of Guelph, the University of Saskatchewan, and the University of British Columbia. This is the 14th year the report has been released. It’s based on historical data sources, machine learning algorithms, and predictive analytics tools.
In 2024, a family of four can expect to spend around $700 more on food, for an annual cost of $16,297.20, according to researchers.
Related Stories
“The most significant increases range from 5 percent to 7 percent in the categories of bakery, meat, and vegetables,” the report…
Read the full article here