The average family is expected to spend $700 more on groceries in 2024. Here's how to save money at the tills
CTV
How can Ontarians save money on groceries as food prices are expected to rise in 2024? CTV News Toronto spoke with a few experts.
Food prices are expected to keep rising in 2024, but there are still a few ways Ontarians can save some money on groceries and avoid wasting food.
The annual Canada’s Food Price Report, published by Dalhousie University, the University of British Columbia, the University of Guelph and the University of Saskatchewan, predicts food prices will rise somewhere between 2.5 per cent and 4.5 per cent next year as inflation continues to moderate.
“Overall, we actually do believe that Ontario will be an average province when it comes to inflation in general,” Sylvain Charlebois, project lead and director of Dalhousie’s Agri-Food Analytics Lab, told CTV News Toronto.
Bakery, meat and vegetables are expected to go up the most at a five to seven per cent increase, according to the report. Researchers behind the report also predict a family of four will spend about $700 more on food in 2024 than they did this year for an annual estimate of $16,297.20.
Interestingly, however, the report predicted that the same family of four spent nearly $700 less than 2023’s report estimated. So, how can Ontarians maintain their budgets on groceries despite inflation?
CTV News Toronto spoke to a few experts and here is what they had to say.
Charlebois said being patient will pay off.
