Even though the Canadian $ and US $ approach parity, you’ll pay more for the same goods in Canada than in the US. After factoring in the exchange rate, goods in Canada were on average 6.8 per cent higher than in U.S. stores. That’s down from the 24 per cent higher last Fall that sparked an outcry among Canadian consumers.
The Retail Council of Canada explained the cost disparity by saying that Canadian retailers face higher labor costs, import duties and bilingual labelling requirements. Yeah, right.
Read the article at: Toronto Star.