Restaurants across Canada are saying their prices will be upped by more than seven per cent by the end of the year — in a bid to keep profits sustainable and offset the rising cost of food.
The war in Ukraine and high energy costs are contributing to the high cost of food for restaurant owners, according to a new report.has rounded up the consumer and health news you need.
"You are talking [substantial] increases in our food costs. When you look at dairy, it's up nearly 20 per cent. Beef, 16 per cent. Cooking oil, 20 per cent. There's been a lot of inflationary pressure … and our natural gas costs have gone up by about 22 per cent as well." Pleterski owned 11 vehicles, was leasing four other luxury cars, flew on private jets and was paying $45,000 a month to rent a lakefront mansion in Burlington, Ont.
The annual inflation rate came in at seven per cent in August, down from the four-decade high we saw in June. With another interest rate hike expected, some Canadians already pinched by higher prices could be further squeezed by increased debt payments.While Canada's inflation rate cooled to seven per cent in August, it doesn't mean the prices of goods are coming down any time soon.Dr.
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