The Financial Post reports in its Thursday, Feb. 5, edition that Bank of Canada research suggests the acceleration in food inflation last year was almost entirely due to rising import costs, not domestic factors. A Bloomberg dispatch to the Post reports that the total annual change in food costs, excluding fruits and vegetables, was 3.1 per cent in 2025, and 2.7 percentage points of that increase was due to direct imports, imported inputs and international shipping costs, according to research released Tuesday by the BOC. BOC economist Olga Bilyk said, "Prices for imported food began rising early in the year, partly due to the significant depreciation of the Canadian dollar in late 2024." The research also singles out rising prices for coffee and confectionery, like chocolate and candy, which were up 31 per cent and 14 per cent at the end of last year. "Both items were affected by supply shortages -- caused by issues such as extreme weather -- and trade tariffs," Ms. Bilyk said. Tuesday's research is part of the BOC's new publication, called Sparks at Bank, but does not represent the opinion of the bank's governing council.