Commentary The Bank of Canada has once again increased its benchmark interest rate, this time by .25 basis points to five percent, amid growing apprehension from a number of financial experts regarding its potential impact on consumers. And their concerns are not unfounded. Let us examine the evidence. Undoubtedly, food and housing constitute the fundamental…
Sylvain Charlebois: What Does the Latest Interest Rate Hike Mean for Your Wallet?
Sylvain Charlebois: Canada Revenue Agency Raking in More Taxes Thanks to Shrinkflation
Commentary As if shrinkflation wasn’t painful enough for all of us, it looks like the taxman is making shrinking packages even more painful for our wallets. Shrinkflation occurs when a food manufacturer reduces quantities but continues to sell the product at the same price. We have seen this happening pretty much everywhere in all sections…
A Third of Toronto Food-Bank Users Work Full-Time, Says Largest Food Bank
Canadians with full-time salaries are having trouble affording groceries, according to testimony before a House committee studying high food prices. The CEO of Canada’s largest foodbank said a third of the people they help in Toronto are employed full-time. “Things are upside down,” CEO Neil Hetherington of the Daily Bread Food Bank told the Commons agriculture…
Food Prices Dramatically Higher Since COVID: StatCan Figures
New food inflation figures for the month of January show that groceries are now dramatically more expensive than they were before COVID. Meat eaters in January 2023 paid 48 percent more for a striploin steak than they did in February 2020, before COVID-19 was making headlines in Canada and the country started lockdowns. Salad lovers…
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