I am not going to even pretend to be an expert in the field of finance and economics. In fact Economics 101 at Western a few years back was nearly the death of my brain cells. I passed but oh what a struggle it was.
So here is what I do understand. According to Metro every year there is a period of price freeze between grocery stores and suppliers from Thanksgiving to the end of January. It isn't a rule. But it is what happens.
Unless you are living on what you grew, preserved or hunted, you will have had the opportunity to find the prices in stores climbing weekly. At least it feels that way. Stats Canada says grocery prices have climbed 10.8% since last year, the fastest pace in over 40 years.
Loblaws decided to do something to help the consumer out by instituting a price freeze between the stores and customers . . . but only on no name products. I'm all right with that. I use a lot of no name products already and don't mind being steered to more packages wrapped in yellow . . . as long as the price is cheap. Apparently no name products actually have a higher profit margin than name brand products so Loblaws doesn't mind price freezing one little bit.
Many Canadians and politicians are calling this a PR stunt in response to accusations of profiteering.
If I have any of this wrong or someone would like to improve upon my explanations, I would love to hear from you.
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