2 w. ago
Loblaw warning Canadians that grocery prices are about to skyrocket
We hate to be the bearer of bad news, but grocery prices are expected to continue rising in Canada amid U.S. President Donald Trump's tariffs, according to the latest report by Loblaw Companies Limited.The retailer, which owns numerous major grocery chains, including Loblaws, No Frills, and Real Canadian Superstore, released its May food inflation report on Tuesday, May 27.In the report, Loblaw said that thousands of everyday items are set to rise in price. While this isn't the best news for Canadians trying to reduce their grocery bill, the grocery giant did add that it could have been a lot worse.Recently, the Government of Canada introduced a six-month reprieve on tariffs on certain U.S. imports used in Canadian food manufacturing and packaging. Loblaw stated that this, in addition to the recent stabilization of the Canadian dollar, has helped mitigate the risk of a sharp or prolonged spike in food inflation."The Government's announcement exempts 'i...
Economics