Description: We’ve heard some good news and some bad news on inflation in Canada in recent days. While the Bank of Canada’s strategy of raising interest rates to help check inflation appears to be working overall, food inflation continues to soar with an annual increase measured at 11 percent in December. The price on every individual food item in Statistics Canada’s food basket went up in 2022. And while you might delay the purchase of some consumer goods, it’s a bit tougher to avoid the food markets for long.
Date: January 17, 2023
1) Have you and your classmates been noticing this food price inflation in your university town?
2) What are some practical strategies you and fellow students can use to control your food costs?
3) Appendix B of Wiley’s Financial Accounting: Tools for Business Decision-Making contains specimen financial statements for Sobeys Inc. Locate the most recent financial statements for Sobeys. How much different are the earnings for the most recent year from those in Appendix B?