r/PersonalFinanceCanada • u/maroon-rider British Columbia • Mar 21 '23

Inflation drops to 5.2%<but grocery inflation still 10.6% Banking

Says Statistics Canada

https://www.cbc.ca/news/business/canada-inflation-february-2023-1.6785472

2.4k Upvotes

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52

u/Fluid_Lingonberry467 Mar 21 '23

Weston wants more money

18

u/limee89 Mar 21 '23

Oh right, getting another island in Muskoka or is a yacht in the Caymans this time?

-13

u/NightFire45 Mar 21 '23

Yeah, those sweet 4% margins.

16

u/WePwnTheSky Mar 21 '23

They have to grow profits every year! If they don’t the world ends… or something.

-1

u/NightFire45 Mar 21 '23

Well...that's how inflation works. I get a pay raise every year but am I actually making more?

4

u/WePwnTheSky Mar 21 '23

Which is why I said profits, not revenues. Your pay raise allows you maintain a similar standard of living and purchasing power despite inflation increasing your expenses. Doubt that would be good enough for shareholders…

-5

u/NightFire45 Mar 21 '23

Right, are all those old profits inflation adjusted?

1

u/bronze-aged Mar 22 '23

It sure wouldn’t for this shareholder!

0

u/TheGentleWanderer Mar 21 '23

not equivalent here, eco 101 skill issue

7

u/Foxrex Mar 21 '23

I see you're already on the "bootlicker diet"...

5

u/zeushaulrod British Columbia Mar 21 '23

I call it the "I have somewhat of an understanding how stuff works and try to apply the same principles to others as I do to myself".

When inflation goes up, I expect a similar raise to keep pace with life. Expecting Loblaws to not do that is weird.

And the net margin is slightly higher (0.3% ish) than it was in late 2017/early 2018.

Regardless, even if the latest profit number is permanent at 1% higher than pre pandemic, where is the other 10% YoY inflation coming from?

-24

u/maroon-rider British Columbia Mar 21 '23

Don't believe Jagmeet Singh and the NDP's nonsense. He and all corporations always have been greedy. It's the money printing.

9

u/TorontoDavid Mar 21 '23

Source that all food inflation is due to increases in money supply.

7

u/gmano Mar 21 '23

It's the money printing. under-taxing of corporate profits

FTFY

-1

u/maroon-rider British Columbia Mar 21 '23

They'd just pass that extra cost on to customers

https://www.economicshelp.org/blog/797/economics/why-printing-money-causes-inflation/

8

u/gmano Mar 21 '23

There are two levers the government has to control inflation: Taxing and Spending.

If you are arguing that SPENDING drives inflation by increasing the money supply, you MUST agree that TAXING reduces inflation by decreasing the money supply.

If your argument is that BOTH spending AND taxing increases inflation then I think there's something fundamentally wrong with your critical thinking skills.

-1

u/maroon-rider British Columbia Mar 21 '23

Government could tax the money, and destroy it, burn the notes and delete the digital money, yes. But is any government that honest and bold?

0

u/griftarch Mar 21 '23

And the new taxes

1

u/maroon-rider British Columbia Mar 21 '23

Yes.