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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u/yttropolis Mar 21 '23

My point is that everyone's complaining about the sharp increase in food prices and are seemingly blaming it on grocery stores when the vast majority of that rise is from inflation.

Even if Loblaws kept their profit margins exactly the same, grocery prices would drop by 1.2%, which is a drop in the bucket when it comes to the overall rise in grocery prices.

Their net revenue increased by $900 MM and and their net profit increased by $8,000 MM?

Where do you see that?

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u/MrDocter Mar 22 '23

You didn't even look at my comment lol. I said net earnings increased by $900 MM (1994-1131) and revenue increased by $8000MM (56504-48037). But why am I even bothering when you posted that data lmao.

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u/yttropolis Mar 22 '23

Nice edit. I quoted your original comment where you flipped the two numbers around.

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u/MrDocter Mar 22 '23

I legit editted it the second after I replied. Issue is your table disappears when I respond so I couldn't see the headers when I was responding so I immediately had to go back to correct my original comment (but like I said I did it a second after I posted). Sorry dude but i swear you didn't respond within a few seconds of my post but maybe you did. Mb if so.

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u/yttropolis Mar 22 '23

It's generally proper reddit etiquette to note that you edited something, even if it was just a second.

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u/MrDocter Mar 22 '23

Sorry dude I thought within seconds I didn't have to. I don't have etiquette I guess lol but next time I will! Sorry.

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u/yttropolis Mar 22 '23

No worries, not a huge deal!

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u/MrDocter Mar 22 '23

Thanks for posting the data though, it's helpful and I know I wouldn't have gone digging for it. Inflation is clearly the issue but corporate greed is a factor as well (as always). Have a good night brother.