Everything still feels expensive, but if you look at the numbers, inflation is falling quickly. Grocery prices are falling too, but they're still well above the overall inflation rate. And that makes prices three or six months down the line much tougher to predict.
It's been well over a year since food prices began to spike all over the globe, and a number of complex systems have been behind the fluctuations. But with food prices no longer so closely indexed to inflation, and climate change and a volatile geopolitical situation only increasing—we can hope for the best, and perhaps plan for the worst.
GUEST: Dr. Kelleen Wiseman, Academic Director, Master of Food and Resource Economics program at the University of British Columbia, one of the authors of the Canada’s Food Price Report for 2023