Quote:
Originally Posted by Shazam
Are people in aggregate going to spend 2% less in groceries?
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No, but they'll probably spend 2% less in aggregate over all spending if their costs go up by 2%. It'll be lots of little decisions - keep the car an extra year here, trade down from steak to ground beef there, camping in BC instead of Mexico for that couple, whatever. It's basically just a bit of extra inflation in a world where that is already an issue.