How did our groceries become so expensive? Everything we buy, everything we eat, has gone up in price. Across the country and across the globe, it’s becoming increasingly difficult to afford our lives. What’s driving these price hikes, especially at the checkout counter? Economist Armine Yalnizyan explains the nitty-gritty of food pricing, from farm, to retailer, to the table. Canada’s top five grocery chains are making record profits, though their CEOs (like Galen Weston) claim the profit margin on groceries remains flat. How do market players set prices? Is it profiteering? How did we get here?
Unravelled is TVO Today’s digital video series where we clarify complex issues that shape our lives. Join us online to make sense of what’s happening now.
00:00 Let's unravel food inflation
01:09 How do we get the food we eat?: Supply chain logistics and costs
1:59 How the pandemic, the Russia-Ukraine war, and the climate crisis raised food prices
3:13 What is inflation?
3:38 The highest inflation rates in recent history
4:19 Do grocery stores profit from inflated food prices
5:32 The difference between profit and profit margin
6:58 Grocery store monopolies and lack of competition
8:40 Monopolies disrupting capitalism as we know it
9:09 How to get the price of food under control
9:44 Will food prices go down? Will groceries get cheaper?
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