You could soon get less bang for your shopping buck as the loonie sunk below 69-cents this morning.
The problem is the sliding value of the loonie.
The Retail Council of Canada’s Lanny McInnes says it’s costing more for stores to stock their shelves.
“That pressure is very real for retailers. So, in terms of price adjustments, by in large you haven’t seen in yet, but that doesn’t mean you won’t see it moving forward,” McInnes tells 680 CJOB.
Meantime, the diving dollar is actually a good thing for some companies in our province.
Ron Koslowsky is the Manitoba vice-president of Canadian Manufacturers and Exporters.
He points to one example, which is Loewen Windows.
“Manufacturing windows out of Steinbach and shipping almost exclusively to the US, they’re loving this. This is fantastic for them because they’re price just got lower, their competition in the US just can’t compete with them,” Koslowsky says.
Koslowsky tells 680 CJOB Loewen will be looking to hire and grow its business.