Food inflation may be easing but prices won't return to pre-pandemic levels, RBC says
Posted: Jun. 16, 2023 10:25AMA new report from RBC says the cost of filling a grocery cart is finally stabilizing, but don’t expect food prices to go back to pre-pandemic levels.
RBC says food prices have soared by 18 per cent over the past two years, adding to the strain on Canadian household budgets amid rising interest rates. But RBC warns that drought and other extreme weather events are becoming more frequent and could “meaningfully limit” farm production, which would affect the food supply chain.
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