Quote:
Originally Posted by Slava
^ People who say things like that (“great we’re locking in prices now that they’ve risen 30%) just don’t understand inflation. Inflation today at ~3% doesn’t mean prices decline, it means they only grow at 3% as opposed to growing at 9% like they were last year. Essentially, them freezing prices was a straight up reduction, if you factor in inflation.
Anyway, almost like clockwork, Empire (Sobeys parent company) reported higher revenues this morning and declining profits. Maybe people will see this for what it is now? Probably not.
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Seems like a little from column A and little from column B to me. Yes, inflation exists. Also grocery retailers are making twice at much profit as they did pre-COVID:
https://vancouver.citynews.ca/2023/1...D19%20pandemic.
Also not all price increases are permanent. Notably, when you have supply chain issues, it creates short term increases, or at least it should. There's also been a significant degree of hysteria around inflation, that grocers have used to increase prices.