Food price growth will slow, but don’t expect big drop: RBC economists

A new report from economists with Royal Bank of Canada predicts food inflation will slow in Canada, but prices will stay high amid lasting challenges such as increasingly frequent severe weather events.

“While we continue to expect lower food inflation in the current economic cycle, we don’t expect food prices to return to pre-pandemic levels,” the authors of the June 14 report concluded.

DISRUPTIONS RECEDING

Food costs have risen by 18 per cent over the past two years. Grocery store prices peaked in January, and were still 8.3 per cent higher than the year earlier as of April.