TORONTO — Rapid product price inflation and reduced costs helped Loblaw here post earnings that exceeded analyst estimates during its fiscal first quarter. But executives were cautious Tuesday, citing the potential for additional volatility in the economy and margin challenges when prices recede. “This was an OK quarter, maybe OK-plus,” Allen Leighton, president and deputy chairman, said in a conference call with analysts. “I think we’re getting more of the basics right, but we’re flattered ...

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