Inflation: the SAQ adjusts its prices for the third time this year

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Inflation: the SAQ adjusts its prices for the third time this year

An SAQ Selection branch

The Société des alcools du Québec (SAQ) announces Monday that it will make adjustments next Sunday prices on nearly 2000 of its products.

An average price increase of 2.4% will be applicable to 1,458 products available at all times on the shelves of its branches as well as on its transactional site, except for a hundred which will only be increased on January 29, because they are currently in promotion.

An average discount of 1.3% will be applied to 539 products. The price of 1389 other products will remain stable.

The state-owned company is thus making a third price adjustment in just under a year. At the beginning of November 2021, the SAQ announced an average increase of 1.66% on 1,332 products, while in mid-May it raised prices, this time by an average of 3.7% over 2550 products.

In a press release published on Monday, the president and chief executive of the SAQ, Catherine Dagenais, maintains that the inflation of the last few months also affects wines and spirits. She reports that requests from the SAQ's suppliers are increasing, in particular because of the labor shortage and the rise in the price of materials related to bottling, but that its teams dedicated to supply management were able to negotiate at a fair price.

The SAQ adds that the increase in maritime and land transport costs persists.

On the other hand, the gradual depreciation of the value of the euro in recent months has caused the exchange rate for all products acquired with this currency to be revalued at the decrease, to the benefit of SAQ customers.

Ms. Dagenais ensures that the new price adjustments reflect both the reality of the markets and the concern to preserve an exceptional product offer at a fair and competitive price.

Last June, the Société des alcools du Québec posted fourth quarter net income of 232.6 million million, up 12.9% from $206 million in the same period a year earlier. Revenue grew 6.7%.

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