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Researchers say a typical family of four will be forced to shell out an average of $16,288 on food over the course of 2023 — an increase of $1,065 from this year. A two-adult household will spend $7,711, a bump of more than $500 from 2022.
Those increases will come as food inflation remains above 10 per cent, according to the most recent Statistics Canada figures released last month. October saw food prices rise by 10.1 per cent, down slightly from the 10.3 per cent hike in September.
Global
The rate of food inflation exceeded researchers’ predictions in the last Food Price Report, which anticipated a five to seven per cent bump for 2022 — a number Taylor noted was seen as “relatively high” and “aggressive.”
That was before COVID-19 pandemic-fuelled supply chain issues drove inflation to a 40-year high, while Russia’s invasion of Ukraine further squeezed global food supplies. A weaker Canadian dollar also hurt grocers’ buying power, Taylor added.
By 2pm this Thursday, bosses of FTSE 100 companies will have banked an average of £33,000, as much as the average worker will during the whole of 2023.
Data from the High Pay Centre showed that five days into the new year, the average chief executive of the UK’s biggest companies will have earned the same as the median salary for a UK worker.
"In the worst economic circumstances that most people can remember, it is difficult to believe that a handful of top earners are still raking in such extraordinary amounts of money," High Pay Centre director Luke Hildyard said.
uk.finance.yahoo.com...
I don't think for a minute that Russia has anything to do with it. Just a convenient scapegoat.
originally posted by: Subaeruginosa
a reply to: MykeNukem
I don't think for a minute that Russia has anything to do with it. Just a convenient scapegoat.
Well they ain’t exactly helping the situation either… even if we were to entertain your opinion that Russias aggression isn’t one of the root causes of this mess that we’re currently in.
originally posted by: ElGoobero
food is a global commodity and Russia / Ukraine war has an impact.
rich people like Canadians pay more. poor people (sub-Saharan Africa) do without.
I think this was purely Putin's fault.
originally posted by: JAGStorm
a reply to: MykeNukem
There is only one way to combat this…
EVERYONE that is able should have a garden and/or raise livestock.
Those that cannot should support those that do.
Those that do should not gouge those that can’t, if anything it would be best to barter services, skills or other items for goods. No money changing hands. This is how many people survived many times in history!
Only at that point and when everyone stops buying from the stores will they be competitive again. Right now these corporations are making profits like crazy, they are pushing the limits to see how much people will spend.
Although this may seem like a dark time filled with negativeness, there is a true silver lining.
We might have to rely on each other again. We might have to eat non round up sprayed food. We might get healthier, have less allergies, GI issues and waste. We might learn about foraging, and farming, gardening, husbandry.
When you do all those things the circle of life is even more evident, and how we grow impacts our environment.
The evil powers wants to take us down and keep us poor and unhealthy, but the law of unintended consequences (similar to Covid lockdowns) has a wicked sense of humor. What if we find out we REALLY don’t need them (we really don’t)