Economists say there are a number of factors driving up food prices, but they expect food inflation to slow over time. Here's a look at what’s behind Canada’s high grocery prices and what to expect in the coming months.
TLDR; climate change, Russia, supply chain not recovered, labor shortages; more price increases expected :/
I can’t think of the last time I saw a price decrease go through
Somewhere in the mid-2010s, I’d imagine. Prices have been relatively stable or increasing since, save recently. It’s still a little early for the rest of the chain to start to feel it, but it will come. It always does.
In fact, with respect to the economy at large, only once in history has a period of high inflation not been quickly followed by deflation – and that period was unique in that, unlike the usual supply shocks, the driving force – a sudden, sharp rise in the number of consumers (i.e. the boomers coming onto the scene) – never really went away.
It all takes time, though. Nothing happens in a day.
Somewhere in the mid-2010s, I’d imagine. Prices have been relatively stable or increasing since, save recently. It’s still a little early for the rest of the chain to start to feel it, but it will come. It always does.
In fact, with respect to the economy at large, only once in history has a period of high inflation not been quickly followed by deflation – and that period was unique in that, unlike the usual supply shocks, the driving force – a sudden, sharp rise in the number of consumers (i.e. the boomers coming onto the scene) – never really went away.
It all takes time, though. Nothing happens in a day.