CIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
The Canadian dollar is currently trading at $1.37, or 72 cents U.S. CIBC forecasts the loonie will end 2023 at $1.33.
Grocery bills should also fall because global food prices are “softening,” the economists said, adding they expect consumers to benefit at the grocery store because the inflation rate on imported food has “decreased quite sharply.” Imported food inflation was 7.5 per cent in December 2022. In June 2022, when the CPI hit that scary high, imported foods prices surged 15.3 per cent year over year, according to data from CIBC.Canada’s grocery store market — dominated by five major companies, Loblaw Cos. Ltd., Empire Co. Ltd., Metro Inc., Costco Wholesale Corp. and Walmart Inc. thatThis advertisement has not loaded yet, but your article continues below.
including transportation,” Grantham and Charbonneau said, noting that prices for diesel — the fuel transport trucks use — have come down significantly after rising 74.4 per cent year over year in June 2022 and “It also appears that Canadians have come off of their post-pandemic need to spend after months of lockdown, more “good news” for food inflation, the economists said.
Typically, when consumers paid more on essential items such as groceries and gas, they tended to spend less in non-essential areas like restaurants and travel. That expectation got turned on its head during COVID. In the aftermath of the lockdowns, Canadians went on a spending spree, buying food at grocery stores and hitting restaurants, even though prices were high.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
اقرأ أكثر »
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
اقرأ أكثر »
Posthaste: Relief from searing food inflation could be in sight, says CIBC analysisCIBC predicted food inflation will start falling in the second half of 2023, bringing relief from decade\u002Dhigh grocery prices. Read on.
اقرأ أكثر »
Edmunds Compares: 2023 Toyota Prius vs. 2023 Kia NiroCar experts compare the 2023 redesign of the Toyota Prius, which has become synonymous with hybrid cars the past 20 years, with the 2023 redesign of the Kia Niro.
اقرأ أكثر »
Torstar investigation ‘Unchartered’ awarded 2023 Canadian Hillman PrizeRachel Mendleson of the Toronto Star and Steve Buist of the Hamilton Spectator won for their series into how police were violating fundamental rights.
اقرأ أكثر »
Sydney Ribfest sets dates for summer 2023 return | SaltWireSYDNEY, N.S. — The sights and smells of barbecued ribs — and the sounds of crowds enjoying them — will be returning this summer. Rotary Ribfest has ...
اقرأ أكثر »