Posted on 01/13/2016 4:11:35 PM PST by Kartographer
The currency's decline is having a pronounced effect on Canadians' grocery bills. As Bloomberg reminds us, Canada imports around 80% of its fresh fruits and vegetables. When the loonie slides, prices for those good soar. "With lower-income households tending to spend a larger portion of income on food, this side effect of a soft currency brings them the most acute stress," Bloomberg continues.
Of course with the layoffs piling up, you can expect more households to fall into the "lower-income" category where they will have to struggle to afford things like $3 cucumbers, $8 cauliflower, and $15 Frosted Flakes. Have a look at the following tweets which underscore just how bad it is in Canada's grocery aisles
(Excerpt) Read more at zerohedge.com ...
Use some of the now cheap oil to power green houses for domestic consumption.
Meanwhile the prime minister prays at a mosque with his friends and allows thousands of refugees into his country. Sounds like a northern a##hat leader
Yeah, but a Canadian dollar will still buy you a piece of penny candy....
Once is OK. If you’re going to make a regular thing of it; first check whether your medical insurance covers triple bypasses.
Great and huge site for low cost energy projects here, including greenhouses.
You'd think they'd "round" it off to $11.40.
Good advice. My wife says she has not noticed a drastic rise in prices of groceries. She shopped yesterday as well, at the local supermarket. At the Northern Ontario -Michigan border, we do take a trip over the river to Michigan. Groceries very much cheaper there. Especially milk and eggs. Canada has a bureaucracy called the Milk Marketing Board and other boards. I cannot say to what purpose.
A sudden drop in the Canadian dollar will prevent cross-border shopping. It has just dropped to 69.8 cents against the American dollar. Lowest since 2003. It has been about a comfortable 83 cents for some time. Now no more. The price of oil blamed- who knows?
Especially since they are phasing out pennies - a scary omen. I have some of the European currencies from the 1950s where the “cents” just completely disappeared; decades before the Euro conversion, Spain & Italy had lost their “centimos”. Canadiens first warning was when the C$1 and C$2 notes were replaced by coins; I remember getting three credits in a video game for one dollar coin (”loonie”).
Here in the US there is also a drive to eliminate the penny and replace the paper dollar with coins.
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