Last week, the University of Guelph released their annual Food Price Index report. The researchers suggest that in 2013 overall food prices could jump between 1.5 and 3.5 per cent with items such as pork likely to rise around 8 to 10 per cent.
That means, if a family spends approximately $2,000 on pork in a single year, in 2013 they can expect to pay almost $2,200. That may not seem like a lot, but considering other increases (eggs: 3.5-5 per cent, beef: 6-8 per cent, coffee and tea: 2-4 per cent), the costs will add up quickly.
How much will your favourite foods increase in price next year? (Click on the graphic below to see full size.)