From pricier groceries to cheaper natural gas, here are some of the changing costs that British Columbians can expect to see after they ring in the New Year.

The biggest change for many families will be to their Medical Services Plan premiums, which are being slashed in half starting Jan. 1, 2018. Even higher-earning couples who currently pay $150 a month will be getting the deduction. 

And people whose net income is between $24,001 and $26,000 will no longer have to pay anything at all.

On the same day, FortisBC will be dropping the price of natural gas. Changes will vary by region, but residential customers in Metro Vancouver and the Fraser Valley should see an annual decrease of six per cent, or $45.

Prices will be falling even further for customers on Vancouver Island, who can expect to pay about $85 less next year.

The NDP government has also promised to cut ferry fares on minor routes by 15 per cent at some point in 2018.

But it's not all good news. Thanks to food inflation, the average Canadian family of four is expected to spend an extra $348 eating out and buying groceries next year.

Some of the price forecast is being blamed on challenging climate issues like the La Nina weather phenomenon, which is expected to cause droughts and drive up prices for vegetables and fruits.

In Vancouver, homeowners can also expect a higher property tax bill thanks to a 4.24 per cent hike approved by city council earlier this month.

And there are other potential increases that haven't been confirmed, but could certainly be coming in 2018. TransLink is in the process of reviewing its fare system, and is looking at scrapping zones in favour of a pay-by-distance model.

And ICBC, which is grappling with hundreds of millions of dollars in annual losses, could decide to increase insurance rates again, even though premiums were just hiked 6.4 per cent in November.

One bill that shouldn’t be going up or down in 2018 is BC Hydro’s. The NDP has already put a planned three per cent rate hike on hold, and promised to freeze hydro rates until at least 2019.

With files from CTV Vancouver's St. John Alexander