A brand new report predicts that grocery inflation will fall beneath two per cent by the spring and keep roughly between one and two per cent for the remainder of 2024.
Farm Credit score Canada, an agricultural lending agency, says it expects meals value will increase past 2024 to stabilize round pre-pandemic ranges.
The group’s annual meals and beverage report provides up forecasts for shopper spending, in addition to particular meals objects comparable to sugar and flour.
Canada’s annual inflation fee was 2.8 per cent in February, and grocery costs had been one of many important components pushing it decrease.
Grocery inflation was 2.4 per cent that month, down from 3.4 per cent in January as the price of many objects declined yr over yr.
Nevertheless, slowing inflation doesn’t imply costs total are dropping. Statistics Canada famous in its newest launch that between February 2021 and February 2024, grocery costs rose 21.6 per cent.
This report by The Canadian Press was first revealed April 10, 2024.
The Canadian Press
