The Financial Post reports in its Friday, April 12, edition that according to a new report on the food and beverage industry by Farm Credit Canada, a leading agricultural lending firm, grocery inflation is expected to fall below 2 per cent by spring 2024 and remain between 1 and 2 per cent for the rest of the year. A Canadian Press dispatch to the Post reports that the report further states that food price increases beyond 2024 are likely to stabilize near prepandemic levels as the factors driving prices higher are easing. FCC predicts a more positive outlook for food and beverage manufacturers this year, though some sectors may still face headwinds due to elevated interest rates and tighter household budgets. However, population growth and stabilizing or falling input costs are providing optimism for margin improvement for 2024. The FCC report also provides forecasts for consumer spending, as well as specific food items such as sugar and flour. Canada's annual inflation rate was 2.8 per cent in February, and grocery prices were one of the main factors pushing it lower. Grocery inflation was 2.4 per cent that month, down from 3.4 per cent in January, as the cost of many items declined year over year.