BMO Capital

TORONTO, ONTARIO -- (MARKET WIRE) -- 02/10/12 -- BMO Bank of Montreal recognizes an important milestone that Canadian consumers will reach this Sunday - Food Freedom Day 2012. According to the Canadian Federation of Agriculture, this day is the calendar date by which the average Canadian will have earned enough money to pay for groceries for the entire year. Canadians spend an average of just over $7,000 on food annually, which is approximately 10 per cent of household expenditures. That compares to $5,700 (11.4 per cent of household expenditures) in 1997. By comparison, food consumption accounts for 45 per cent of household expenses in Indonesia, 39 per cent in China, and more ...