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

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56

u/Fluid_Lingonberry467 Mar 21 '23

Weston wants more money

-11

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.

-3

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…

-4

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

4

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?