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> Unless there's some bread cartel/oligopoly, a bread seller can't just increase prices and use a story to convince people it's unavoidable.

...funny you should use bread as your example....

https://en.wikipedia.org/wiki/Bread_price-fixing_in_Canada

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The senior officers of Canada Bread, since 23 May 2014 a Grupo Bimbo subsidiary,[6] and Weston Foods, now a sister company to Loblaws under parent George Weston Limited, colluded to boost bread prices, and later strong-armed retailers to increase their prices in tandem.[5] The two named companies became aware of the investigation on 31 October 2017, and decided to co-operate with investigators in December in exchange for receiving immunity from prosecution.[5]

A statement issued by Canada Bread noted that the George Weston and Loblaw informants admitted to inappropriate conduct and accused "certain former Canada Bread executives" dating back to 2001 "while Canada Bread was under previous ownership."[5]

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