Latest news with #foodPrices
Yahoo
a day ago
- Business
- Yahoo
IKEA Canada temporarily cuts food prices to help with the rising cost of living
Canadians craving those famous Swedish meatballs from Inter IKEA Systems BV are in for a pleasant surprise as the retailer is temporarily slashing food prices to help with the rising cost of living. IKEA recently announced it's cutting its weekday restaurant prices in half for some dishes until the end of August, while children eat free on Wednesdays. Customers must have an IKEA Family Card to get the discounts. The move is meant 'to help people stretch their budgets, nourish their families, and find a little more joy,' the retailer said. 'Securing the lowest possible price for our products is always our utmost goal, and this is even more important in today's times of economic uncertainties and cost-of-living pressures,' Tolga Öncü, Ingka retail manager at IKEA Retail, said in a news release. The company says a family of four in France will now pay 6.96 euros ($11.12 CAD) for a meal and a 5 euro store voucher, compared to the previous price of 19.9 euros ($31.63 CAD). Food inflation has been a persistent issue in Canada, having climbed a whopping 31 per cent since 2019, according to NerdWallet Canada. Prices for food purchased in stores climbed 2.8 per cent year-over-year in June, according to Statistics Canada, outpacing overall inflation for the month. IKEA stores in Canada, Austria, China, Denmark, France, Germany, Italy, Netherlands, Poland, Portugal, South Korea, Sweden, Switzerland, and the United Kingdom are included in the promotion. • Email: bcousins@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
IKEA Canada cuts restaurant prices in half to help with the rising cost of living
Canadians craving those famous Swedish meatballs from Inter IKEA Systems BV are in for a pleasant surprise as the retailer is slashing food prices to help with the rising cost of living. IKEA announced on Tuesday it's cutting its restaurant prices in half for adults and children eat free from Monday to Friday. The move is meant 'to help people stretch their budgets, nourish their families, and find a little more joy,' the retailer said. 'Securing the lowest possible price for our products is always our utmost goal, and this is even more important in today's times of economic uncertainties and cost-of-living pressures,' Tolga Öncü, Ingka retail manager at IKEA Retail, said in a news release. The company says a family of four in France will now pay 6.96 euros ($11.12 CAD) for a meal and a 5 euro store voucher, compared to the previous price of 19.9 euros ($31.63 CAD). Food inflation has been a persistent issue in Canada, having climbed a whopping 31 per cent since 2019, according to NerdWallet Canada. Prices for food purchased in stores climbed 2.8 per cent year-over-year in June, according to Statistics Canada, outpacing overall inflation for the month. 'We are not seeing inflation in our business,' Empire CEO says Competition Bureau sues DoorDash over alleged misleading prices IKEA stores in Canada, Austria, China, Denmark, France, Germany, Italy, Netherlands, Poland, Portugal, South Korea, Sweden, Switzerland, and the United Kingdom are included in the promotion. • Email: bcousins@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Times of Oman
06-07-2025
- Business
- Times of Oman
Oman records 0.81% average inflation rate in first five months of 2025
Muscat: The Sultanate of Oman witnessed an average inflation rate of 0.81 percent during the first five months of 2025 compared to the same period last year, according to the Consumer Price Index data released by the Ministry of Economy. The report indicated a 1.3 percent increase in the general import price index and a 4.1 percent rise in the producer price index by the end of the first quarter of 2025 compared to the corresponding period in 2024. Geographical distribution showed varying inflation rates across governorates, with South Al Batinah recording a marginal decline of 0.04 percent, while Al Dakhiliyah registered the highest rate at 1.58 percent, followed by Musandam at 1.51 percent and South Al Sharqiyah at 1.24 percent. More moderate increases were seen in North Al Sharqiyah (0.21 percent) and North Al Batinah (0.42 percent), with other governorates remaining below one percent. Dr. Salim Abdullah Al-Sheikh, official spokesperson for the Ministry of Economy, stated that the moderation in consumer price inflation was driven by declining prices in the food and non-alcoholic beverages category alongside stable housing, water, electricity, gas, and fuel prices. These two categories account for over half of the consumer price index weight in Oman. He pointed out that detailed inflation data revealed a 0.17% decrease in food and beverage prices between January-May 2025 compared to the same period last year. Significant price reductions were recorded for vegetables (-4.63%), seafood (-3.69%), meat (-0.13%), non-alcoholic beverages (-0.11%), and bread/cereals (-0.01%). Conversely, sugar/jam/honey/sweets rose 3.13%, dairy/eggs increased 2.88%, fruits grew 1.05%, oils/fats climbed 1.28%, and other food items jumped 3.40%. He added that the miscellaneous goods/services category showed the highest inflation at 6.04%, followed by healthcare (2.71%), transport (2.68%), and restaurants/hotels (1.08%). Tobacco and communications prices remained stable with minimal increases in other CPI components. Al-Sheikh attributed food price stability to moderated global commodity trends and sustained government subsidies on essentials, coinciding with progress in Oman's Tenth Five-Year Plan (2021-2025) food security strategy. This strategy enhances domestic food production, processing, and marketing systems to boost agricultural/fishery output, increase self-sufficiency, and reduce food imports. He pointed out that the agriculture and fisheries sectors grew 2.8% in 2024, contributing OMR987 million to GDP at constant prices, with growth accelerating to 7.6% (OMR273.6 million) in Q1 2025. To strengthen food security, Oman has developed over 80 markets, slaughterhouses, and kiosks since 2021 under its governorates development program, he explained. He said that current projects include the Slaughterhouse in Shaleem & Halaniyat Islands, Sinaw Resources Market, Dhofar's Agricultural Products Hub, and Duqm's Food/Fishery Industrial Complex with cold chain facilities. The "Silal" Central Market in Barka in South Al Batinah, operational since 2024, serves as advanced distribution channel for local farm produce. Meanwhile, the FAO Food Price Index recorded a year-on-year increase of 7.2 points (6.0%) in May 2025 compared to the same month last year. On a monthly basis, the index averaged 127.7 points in May 2025, reflecting a slight decline of 1.0 point (0.8%) from April 2025. This movement was driven by rising prices in dairy and meat products, while cereals, sugar, and vegetable oils experienced price declines. Economic observers have expressed growing concerns about potential resurgence in inflation should trade protectionism policies intensify. Such developments could undermine the efforts of central banks that have successfully achieved significant inflation reduction since last year. The US Federal Reserve expected that tariff increases implemented in April might lead to price hikes later this year, though the full impact has not yet materialised in inflation figures. While US inflation has declined substantially from its 2022 peak, it remains above the Fed's 2% target. At its June meeting, the Federal Reserve maintained its benchmark interest rate at 4.25-4.5%, unchanged since December 2024, while signaling potential for two rate cuts in 2025. It simultaneously revised its inflation forecast upward to 3% for 2025 and lowered its U.S. GDP growth projection to 1.4%. Within the same context, the International Monetary Fund, in its April 2025 World Economic Outlook report, adjusted its global inflation projections upward to 4.3% for 2025 and 3.6% for 2026. The report anticipates stronger inflationary pressures in advanced economies, contrasting with expected moderation in some emerging markets and developing economies.
The Guardian
01-07-2025
- Entertainment
- The Guardian
Thicker bread and thicker waistlines
Re Zoe Williams' article (The way to tackle obesity in the UK is to make healthy food affordable. But the government won't admit it, 30 June), has anyone else noticed that slices of bread are now much thicker than they used to be? And that thin-sliced bread is rarely available? I weigh my food to check weight gain, and a sandwich now uses 30% more bread. So companies have grown their sales (and profits) by 30% while increasing ReeveLondon I was charmed to see the first three birthdays in your list in the paper on 1 July, Canada Day: Pamela Anderson, Dan Aykroyd and Geneviève Bujold, all Canadian. Then I realised that it was alphabetical. How very amusing of the birthday fates. And happy 158th birthday to Canada Margaret SteinerLondon As a fellow pedant (Letters, 29 June), I'm bemused by prolix, redundant phrases like 'at this moment in time'. As opposed to this moment in space? And 'in any way, shape or form'. 'Way' will do. Otherwise, why not add 'manner, means, mode, style…'?Akiva SolemaniSt Leonards-on-Sea, East Sussex I thought 'blare' was quite reasonable to describe the sound of bagpipes (Letters, 30 June), but would have preferred 'screech'.Alec MurdochEdinburgh I've always believed the awful cacophony of the bagpipes was designed to scare enemies in battle, but at least the pipes preceding Rod Stewart's Glastonbury show were more in tune than his HatleyBrighton Have an opinion on anything you've read in the Guardian today? Please email us your letter and it will be considered for publication in our letters section.
Irish Times
30-06-2025
- Business
- Irish Times
Food prices rise more than 4% as headline inflation increases again
Prices for consumer goods and services in Ireland have increased by 1.6 per cent in the past year, the latest inflation data from the Central Statistics Office (CSO) shows. The biggest increase in Ireland was in food prices, which are estimated to have risen by 4.3 per cent in the past year, and by 0.3 per cent since May. The data, which falls under the EU Harmonised Index of Consumer Prices for Ireland, covers the month of June. Prices have risen by 0.5 per cent since May, while the annual inflation rate of 1.6 per cent shows an increase on May's annual figure of 1.4 per cent. READ MORE Despite the increase, June's figure is lower that the euro zone's rate of 1.9 per cent over the same period. Energy prices are estimated to have fallen by 1.8 per cent in the year to June and by 0.2 per cent in the month. Stripping out energy and unprocessed food, the overall rate of inflation is estimated to have gone up by 1.9 per cent since June last year. Elsewhere, transport costs fell by 2 per cent in the year to June, but increased by 1.2 per cent compared to May.
