Tuesday, March 21, 2023

Food inflation remains high



Food prices were 10.5 per cent higher this February than a year ago, much higher than the overall inflation rate of 5.2 per cent.


And there is scant expectation that food prices will decline any time soon.


But the overall inflation rate declined by the most it has since April. In January it was 5.9 per cent. 


The Bank of Canada aims to keep inflation below two per cent, so there remains a long way to go.