Food inflation crisis may be over, but high prices are here to stay [Financial Post (Toronto, Ontario, Canada)]
Abbott Laboratories (ABT)
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Source: Financial Post
The fall is one of the few times he can realize some revenue from his 6,000-acre farm, which belonged to his grandparents and parents before him, in the small Manitoba town of Birtle. The good news is that in his 17 years of running the farm, beef prices have never been higher. “Prices for cattle have been climbing now, probably for about 10 years,” he said. But it's also important to note that his operating costs compared to just five years ago are significantly higher when it comes to equipment, labour and feed. Fulton's cattle farm and beef prices in general are part of the larger story about food inflation , which seems to have finally been tamed after three years of rapid increases. Year-over-year food inflation was at 2.4 per cent in August, down from its peak of 11.4 per cent in January 2023, but that's still higher than the headline rate of two per cent, the Bank of Canada's target. The hard truth, however, and one keenly felt by many Canadian households, is that slo
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