Canada Food Inflation

Costs of food and non-alcoholic beverages in Canada rose by 9.7 percent annually in February of 2023, remaining at a high level but easing from the 42-year high of 10.4 percent from the prior month. Prices decelerated for non-alcoholic beverages (11.1 percent), meat (6.2 percent), vegetable preparations (13.9 percent), and dairy products (9.1 percent). Costs in grocery stores rose by 10.6 percent to notch the tenth consecutive double-digit increase amid unfavorable weather in growing regions and higher feed costs. Prices accelerated for cereal products (14.8 percent) despite the decline in international wheat prices, sugar and confectionary (6 percent), seafood and marine products (7.4 percent), and fruit juices (15.7 percent).