Reports of food price inflation

I am starting to read more about food price inflation – this makes logical sense when you consider that base commodities such as grain have been rising significantly.

One of Canada’s major grocery retailers, Loblaw Companies (operating Superstore), reported their third quarter results and notably stated the following:

– the Company’s internal retail food price index was flat. This compared to internal retail food price inflation in the third quarter of 2009;

My anecdotal evidence would suggest that food prices are increasing, but at least not according to Loblaw, which has less of an incentive to lie about this than the government statistics.