Food inflation might be slowing — but that doesn't spell good news for food prices just yet
Food price inflation could ease going forward thanks to good harvests, but this does not mean food prices are coming off, Tiff Macklem, the governor of the Bank of Canada said on Sunday.
"I'm actually hopeful that at least food inflation — which isn't quite the same thing as food prices — is going to come down because in Canada and a number of other countries that have been reasonably good harvests," Macklem told government-fundedreleased data on Friday showing its food price index fell for the sixth straight month in September. The index hit a record high in March, but even with the decline in September, was still 5.5% higher than a year ago.
Food inflation has eased due to various factors, including slowing global growth, seasonal factors, and a
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