Sobeys says food prices are rising because of Trump
As if Toronto wasn't too expensive to live in already, it looks like pricier groceries at all the big-name brands are now pretty much inevitable.
The parent company of grocery chain Sobeys, Empire Company Ltd., said yesterday that prices will soon be going up to cover transportation and tariff-related costs, which have risen since Prime Minister Trudeau and President Trump began their trade war months ago.
The announcement follows similar statements from Loblaws, who has previously said they'll be raising prices to offset the retaliatory taxes imposed on U.S. imports like coffee and jam by the Canadian government. Same goes for grocery chain Metro.
As if Sobeys prices are not criminal enough anyways. But you know; the shareholders need their guaranteed rate of return, so expect a good acknof hot dogs to be $6.99!— TalonXavier (@TownieMinion) September 14, 2018
Empire told analysts that increasing minimum wage and freight charges would also impact Sobeys' prices following the release of its first quarter-earning results yesterday: $95.6 million, up from last year's $54 million.
Sobeys prices are already higher than superstore or no frills.this is just excuse for them to rip people off even more.go to sobeys on the day old age pension comes out,higher prices on many items.— Judy 🇨🇦 (@Judy88728273) September 14, 2018
Until cross-border relations thaw, it looks like Canadians will have to pay more out of pocket for those American goods. Maybe it's time to ditch the big chains and shop local, or hit up some non-North American international grocery stores instead.
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