๐ Maple Market Challenge 20: Canada's inflation rate went up to 2% in October, food prices UP on weak dollar?
Hi, mooers!
Welcome back to Maple Market Challenge! ย
First, letโs dive into last weekโs vote:ย Do you consider Shopifyย the leading tech company in Canada? 85% of mooers believed that Shopify is the leading tech company, while 15% felt there are better alternatives. Let's examine the comments section to see what they had to say.
First, letโs dive into last weekโs vote:ย Do you consider Shopifyย the leading tech company in Canada? 85% of mooers believed that Shopify is the leading tech company, while 15% felt there are better alternatives. Let's examine the comments section to see what they had to say.
Bonus question:
1. Do you believe that grocery prices are increasing in Canada? Could you provide some examples?
2. What do you think is the main reason for the rise in the inflation rate?
Share your market smarts in the comment area to earn 50 points!
Share your market smarts in the comment area to earn 50 points!
Stick around for the reveal of the answers and to celebrate our winners. Good luck to everyone!![]()
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102362254 : I donโt live in Canada right now, but grocery prices are rising sharply where I am too. Everyday essentials like eggs, chicken, and cereals are costing a lot more now. This could be due to higher energy prices and rising production costs. Itโs a tough situation, and many people are feeling the strain on their budgets
CNNT : Food cost is one example of grocery price increase.
The commonly talked about reasons are inverse climate conditions impacting production, higher fuel cost, and labour shortage. These are actually happening worldwide. No country is exempted, esp. if one lives in the city, far from the source of production.
Governmental also contributes to this. Their inability to repay debt, ineffective budget management, and pumping more money into the circulation are all invisible taxes imposed on consumers.
COCO 2024 : I am in Canada, but the grocery prices in my area have also sharply risen. Daily necessities such as eggs, chicken, and grains are now much more expensive. This could be due to higher energy prices and rising production costs.
.
Both my spouse and I have stable jobs, yet the cost of living is still very high
Antonio Sze-To : I still believe the Bank of Canada will cut interest rate with a 50bps. Bank of Canada is not only looking at CPI but also looking at the overall economy in Canada, specifically the employment rate. Given that the economy and employment rate is still not looking good in Canada, I think that Bank of Canada will still have a 50bps cut in December.
Jason Fung : I think the rise in inflation in October are mainly due to elevated energy price along with the higher price of imported goods due to strong USD and weak CAD.
70773661 : The situation is stronger than individuals, facing internal and external troubles, the US dollar is strengthening, what should not be compromised?
ๅ ๅๆฌๅ่ฏด : Life is. So hard
Lucky plus : The prices of daily necessities such as food continue to rise, with Costco's egg prices going from 9.99 to the current 14.99. Labor costs keep increasing, logistics costs continue to rise, and the cost of synthetic commodities is increasing.
DonHakob : just invest
72546559 : I think that shopify is the biggest tech company in Canada and that prices always rises around this time of year people only realizing this nowadays because off Covid and the Russian war. People donโt realize this but before Christmas prizes rises so when itโs Christmas companies can pretend to have decreased their prices.
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