14:24:49 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Empire Company Ltd
Symbol EMP
Shares Issued 151,912,608
Close 2023-09-22 C$ 37.08
Market Cap C$ 5,632,919,505
Recent Sedar Documents

FP says Loblaw, rivals hear food price rise complicated

2023-09-22 09:11 ET - In the News

See In the News (C-L) Loblaw Companies Ltd

The National Post reports in its Friday edition that Prime Minister Justin Trudeau has ordered grocery executives to "stabilize" prices, while Conservative leader Pierre Poilievre blames carbon tax for higher food prices. The Post's Tyler Dawson writes that while it is clear that food prices have spiked, it remains unclear what is actually causing food inflation. The issue is complicated. There are multiple factors at play. Everything from supply-chain disruptions to supply management and the war in Ukraine has contributed to an increase in costs. The carbon tax has also played a role, but experts cannot agree on how much. The Bank of Canada says the carbon price contributes about 0.15 percentage point to inflation. That amount was the same whether inflation was at its peak of 8.1 per cent in June, 2022, or 3.3 per cent in July. There is no clear figure for groceries. While the tax is not applied directly to food, and the bulk of carbon emissions from the agricultural sector are exempted, it can still indirectly raise costs of production and transportation of food. University of Calgary economist Trevor Tombe says the carbon tax is responsible for less than 1 per cent of grocery price increases.

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