Food inflation dips into Super Bowl spreads
BNN Bloomberg
As food prices stay hot, the chicken wings, pizza, party subs and snacks for your Super Bowl spread will come with a heftier price tag this year, whether you're ordering in, going out, or cooking at home.
With December grocery prices up 11 per cent from a year earlier and higher interest rates eating into budgets, some businesses are preparing for a quieter Super Bowl Sunday.
Erin Gamelin, who owns Stout Irish Pub and Louis Cipher Brew Works in Toronto, said she won't be doing a Super Bowl menu or printing special tent cards for tables this year.
With the impact of inflation and interest rates, customers are going out less and she isn't expecting the crowds she used to get, instead predicting people will make their own food at home.
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Wall Street is stumbling toward the finish line of a fourth straight losing week on Friday, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
FedEx shares surged about 10 per cent before the bell on Friday, after the package-delivery giant raised its full-year profit forecast and signaled steady shipping demand despite geopolitical tensions and surging fuel costs.
Wall Street is stumbling toward the finish line of a fourth straight losing week, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
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Oil prices steadied on Friday on the intensifying Iran war to around US$110 a barrel, while global shares were mixed following Wall Street losses.
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Iran intensified its attacks on oil and natural gas facilities around the Gulf on Thursday, raising the stakes in a war that is sending shock waves through the global economy.
Canadian and U.S. stock markets fell on Thursday as higher oil prices stoked inflationary fears.
Canadian securities regulators on Thursday announced a pilot project to allow smaller issuers to voluntarily adopt a semi-annual financial reporting framework, in a bid to ease the regulatory burden for public companies.
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Markets remain resilient despite oil surge from Middle East conflict, as investors watch inflation risks and potential supply disruptions.