TORONTO — A 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.
The report released this week says the main drivers of food inflation, such as global supply chain issues and transportation costs, have eased but prices won't drop any time soon.
Supply chain bottlenecks, shipping costs and volatile prices of raw food commodities, such as wheat and oils, have stabilized and concerns about the impact of geopolitical strife — mainly the war in Ukraine — have eased. The report points to shrinking livestock herd sizes in Canada and the United States as an example, after recent droughts forced some meat producers to sell off or slaughter cattle in large numbers.
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