The Globe and Mail reports in its Thursday, Dec. 7, edition that food prices will continue to rise in 2024, with the average family of four expected to pay $700 more for groceries over the next year, according to an annual report on grocery prices. The Globe's Irene Galia writes that Canada's Food Price Report says the cost of groceries will increase between 2.5 per cent and 4.5 per cent in 2024 to $16,297.20 for a family of two parents and two children. It projects that certain items -- bakery, meat and vegetables -- could rise by up to 7 per cent. While the report projects that groceries will become more expensive over all, the rate of increase is slowing. Even the higher end of the price-hike projection -- 4.5 per cent -- is lower than this year's actual increase of 5.9 per cent. Prices will once again be pushed up by interest rates, energy costs and climate change. Heightened transportation expenses and geopolitical risk will also continue to contribute to higher prices. However, some essential items might actually become cheaper, according to the report, which was published Thursday. Falling prices of commodities, including wheat, corn and soybeans, could lead to a small drop in the price of some staples.