Food inflation may be easing but prices won't return to pre-pandemic levels, RBC says

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Food inflation may be easing but prices won't return to pre-pandemic levels, RBC says
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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.

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.

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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