Don’t see reason for optimism over moderation in food prices: Grocery sector analyst Kevin Grier
As Canada’s Competition Bureau is set to release key findings from a study on grocery competition and price fixing next week, one market expert doesn’t think prices will ease any time soon.
The Competition Bureau will publish findings from its Retail Grocery Market Study next Tuesday. However, Kevin Grier, the president of Kevin Grier Market Analysis, said in an interview with BNN Bloomberg Thursday that he does not have reason to believe prices will drop.
“The costs that the grocers are facing, the cost of manufactured food products, that's showing no signs of letting up and the underlying commodities are also stubbornly high. As a consumer, I'm not overly pleased and I have very little reason to be optimistic on the pricing front,” he said.
Grier said the Statistics Canada Industrial Product Price Index for food shows that manufactured food as well as commodities are “rising at a fairly rapid rate.”
“The underlying commodity, agricultural costs, are very stubborn and they're showing signs of bouncing back up again,” Grier said.
Check out the full video at the top of the article to learn more.