Food prices set to rise in 2024, report says. But more ‘good news’ than year prior
- Media Manager
- Dec 7, 2023
- 1 min read
Global News
Written By: Sean Previl
Published: December 7th, 2023
Photo Credit: Unsplash/CC0 Public Domain
Canadians hoping for better food prices going into 2024 may not get their wish immediately, but as inflation cools, a new report suggests people could soon see some savings at the grocery store.
The 2024 Food Price Report released by Canadian researchers Thursday estimates food prices will increase by 2.5 to 4.5 per cent over the next year, which is down from the five to seven per cent forecast a year prior. It comes as the heads of two major grocers in Canada are testifying at the House of Commons agriculture committee about plans to stabilize food costs.
“That doesn’t mean that everything is going to be cheaper than it was before. It absolutely is not,” said Janet Music, one of the authors of the report, in an interview with Global News. “But it’s not going to be as expensive if things were going to keep going as they were.”
