You don’t need me to tell you about skyrocketing food costs. Over the past couple of years, a trip to the grocery store to pick up eggs, milk, or butter has been breathtaking. The financial strain on consumers has become nearly unbearable. But now the price of some food items is starting to recede. The…
Statistics Canada Says the Annual Pace of Inflation Rose to 4.4 Percent in April
Statistics Canada said Tuesday the annual pace of inflation rose in April for the first time since it peaked in June last year. The agency said its consumer price index was up 4.4 percent compared with a year ago, up from a year-over-year increase of 4.3 percent in March. Statistics Canada said the first tick…
Online Grocery Prices up 10.3 Percent in March as Inflation Continues to Bite
April 11, 2023
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AdobeBusiness & Marketseconomygrocery pricesinflationMarketsonline shoppingpersonal financerecessionUSUS News
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Online grocery prices continued to rise by double-digits in March, as inflation continues to bite. Although online grocery prices have eased over the past six months, costs were up 10.3 percent in March from the previous year, according to the Adobe Digital Price Index on April 10. Adobe analyzed 1 trillion visits to retail sites and…
Canada’s Annual Inflation Rate Slowed in January but Grocery Prices Are Still Soaring
Canada’s annual inflation rate slowed to 5.9 percent in January, despite grocery prices rising at an even faster pace last month. In its consumer price index report released Tuesday, Statistics Canada said the deceleration in headline inflation from 6.3 percent in December reflects a base-year effect. A base-year effect refers to the impact of price…
Federal Committee Investigating Food Inflation to Summon CEOs From 3 Biggest Grocery Chains to Testify
The heads of Canada’s three grocery oligarchs will be summoned to appear before a House of Commons committee investigating food price inflation. MacGregor posted Feb. 13 on Twitter that the Standing Committee on Agriculture and Agri-Food “unanimously passed my motion to summon the Presidents and CEOs of the three biggest grocery chains in Canada: Empire,…
Nearly One-Quarter of Canadians Say They’re ‘Completely Out of Money’ Amid Inflation and Rising Costs: Poll
Canadians are feeling the pinch in their wallets with nearly one-quarter of them saying they are completely tapped out, according to a new poll. Conducted by Ipsos on behalf of Global News, the poll suggests there is a growing proportion of Canadians (22 percent) who say they are “completely out of money” and there is…
Grocery Shoplifting on the Rise in Canada Amid Inflation, Industry Insiders Say
Shoplifting has surged to an alarming level across Canada, industry insiders say, with inflation and labour shortages cited as major factors behind the increase. The uptick has triggered concern among Canadian grocers even as the rise in food prices helps pad their bottom lines. Grocery prices were up 11 percent year-over-year in October and they’re…
Execs From Grocery Giants Push Back Against Inflation Profiteering Claims
Grocery executives are disputing an accusation that grocery giants are taking advantage of inflation to drive up their own profits. Executives from Loblaw and Empire testified at the House of Commons agriculture committee Monday as part of its study of food inflation. “Empire does not like inflation,” said Pierre St-Laurent, chief operating officer of Empire,…
American Grocery Stores Hit Hard by Rising Inflation
April 23, 2022
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Business & Economyeconomyfood pricesgrocery priceshigh inflationinflationRussia Ukraine invasionsupply chain disruptionUSUS News
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With prices of commodities rising due to the COVID-19 pandemic and supply chain disruptions, inflation has hit grocery stores across the United States as brands increase product prices to prevent corporate profits from being squeezed. P&G, which sells skincare products, shampoo, diapers, and toothpaste, raised product prices by 5 percent to achieve 10 percent sales…
Americans Make Tough Budget Choices as Inflation Hits Home
Americans are feeling the economic pain as consumer prices rose nearly 7 percent over the past year, a reality that is causing tough choices and belt-tightening at home as a hedge against the higher cost of living. The jump in prices of gas, food, and durable goods has changed the travel plans and Christmas shopping…
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