(Bloomberg) -- Food price inflation is set to slow, helped in part by “reasonably good harvests” in Canada and several other countries, Bank of Canada Governor Tiff Macklem said. He also pointed to a resumption of some wheat shipments out of Ukraine, a major exporter of the grain before the war with Russia. Inflation has started easing as the central bank lifted interest rates to 3.25%. Interest rate increases “have started to cool parts of the economy and actually that’s what we need,” said Macklem. Most Read from Bloomberg Businessweek©2022 Bloomberg L.P.

Source: CBC News October 09, 2022 17:06 UTC