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Canada’s inflation rate is plummeting, so why are grocery prices still so expensive?
(www.ctvnews.ca)
this post was submitted on 07 Aug 2023
183 points (97.4% liked)
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Until the conflict in Ukraine is resolved, I’d expect those prices to still be up. Wheat and oil being impacted in that conflict have major repercussions across the supply chain across the world.
Wheat today is only worth half of what it was last year.
I expect the prices to still be up only because it takes a while to work through the system. Similarly, it took a while after farm gate prices started climbing over the past several years before prices at the store started going up. Give it another year and things will look quite different, even if the Ukraine conflict persists.