Up untill a week ago Nofrills carried these “three packs” of salmon for $10. Now the same pack contains two for the same $10. I thought it felt light when I bought it yesterday.
This comes to about $0.02 increase per gram, and a $1.10 price increase overall. Or a 11% increase in price overall. Meanwhile inflation is at 6-7%?
More than likely their suppliers are bleeding them, a lot of restaurants in my town are dealing with the same shit
Yeah. One of my favourite restaurants closed a couple months ago because they just couldn’t justify charging more for food, but their suppliers sure could.
It’s not the supplier “bleeding them” the supplier has the exact same problem the restaurant has, inflation, if they don’t raise the prices they go bankrupt. It’s a vicious cycle of everyone raising prices not to go bankrupt which causes everyone else to do the same.
If you don’t think suppliers are using inflation to justify robber-baron price hikes, I guess you missed the part where companies are posting record profits.
I work for a packaging supplier and inflation is hitting us hard.
Perhaps the people whose job it is to know shit a actually do know shit
Inflation drives all the numbers up. If money inflates to half the value but you maintain the same profit margins, you’ll make record profits despite the finances having functionally remained exactly the same.
Workers are also making record wages. It doesn’t mean much if you don’t consider how much the money is actually worth, as we’ve all been discovering over the last few years.
so why not just lower the profit margins? also give me some of them record wages please, all I got was a bottle of champagne for all the work weve done and record profits but also raises in pay are frozen because of the turbulent times
Probably for the same reason you don’t casually decide to go to your boss and say that you voluntarily want a pay cut.
https://tradingeconomics.com/united-states/wages
Average hourly wage at the start of 2020 was $24. It’s now $29, which comes to about $10,000 more each year, and is an increase of about 21%. That growth has been concentrated in the service industry, but the data is pretty clear regardless, and the general trend applies to basically all sectors. Inflation in that same time period is 18.1%, so it simply is a matter of fact that the average worker has greater buying power today than they did in January 2020.
That’s an average, of course, and may not necessarily apply to you individually.
You’re getting downvoted but the suppliers have suppliers too, and even if it’s a farm-to-table thing the farms have supply costs.