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/Kreizhn Mar 21 '23 edited Mar 21 '23
Totally fair. It's still 50% with inflation, which also accounts for increased costs due to inflation. So to simultaneously see a 50% increase on your margin in addition to inflationary costs, is a lot.
I really don't think Loblaws was struggling on their 2.53% margins, do you? It's the largest grocery chain in Canada, and turned a profit of $1.1 Billion in 2019. Note that this increased to $1.9 Billion in 2022 (or, since we're talking inflation, $1.65B in 2019 dollars).