Food inflation in Canada may have eased to 4.0% in March, but don’t be misled by the headline. The number that matters most — food purchased from stores— actually rose to 4.4%, up 0.3 percentage points. That increase tells us something important: cost pressures are not fading. In fact, they are shifting — and intensifying in key categories.

Look at what’s driving the change. Meat and vegetables are both rising, and for very different reasons. But together, they paint a clear picture of a food system still under strain.

CHARLEBOIS: Why the most important food prices are rising again Back to video

Start with meat. Beef prices are up 12.7%, chicken 7.5%, and pork 6.2%. This is not short-term inflation. It’s structural. North America is still dealing with the aftershocks of herd contraction. Farmers reduced livestock during periods of high feed costs and uncertainty, and rebuilding those herds takes time — often years. In the meantime, supply remains tight.

Layer on top of that, higher input costs. Feed, transportation, labour, and processing have all become more........

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