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Bank of Canada's Macklem says he expects food inflation to ease in 2026

Yesterday, Bank of Canada governor Tiff Macklem said he expects food inflation to ease in the coming months.
Statistics Canada reported grocery prices rose to a nearly two-year high of 4.7 per cent last month, driven largely by berries, beef and coffee.
Speaking to media in Montreal after a speech, Macklem said U.S. tariffs on coffee-producing countries raised Canadian coffee costs since beans are refined in the United States before reaching Canadian grocers and cafés.
Noting uneven relief, Macklem said `If you're a family that's already having difficulty putting food on the table, the fact that food price inflation might come down, that's not the same thing as food prices coming down.`
StatCan also said the overall inflation rate held steady in November at 2.2 per cent as grocery and gas prices rose but were offset by cheaper travel costs; this report by The Canadian Press was first published Dec. 16, 2025.

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