Import costs driving Canada food inflation, BOC research says

Bloomberg: The total annual change in food costs, excluding fruits and vegetables, was 3.1 per cent in 2025, and 2.7 percentage points of that increase was due to direct imports, imported inputs and international shipping costs, according to research released Tuesday by the central bank.

“Prices for imported food began rising early in the year, partly due to the significant depreciation of the Canadian dollar in late 2024,” senior economist Olga Bilyk wrote in the report….