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Food inflation: More competition needed to tame high grocery prices in Canada, report argues

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Governments must act to bring more grocers into the Canadian market, argues a new Competition Bureau report examining concentration in the sector. The investigation, which arose in response to surging inflation at the grocery store last fall, ties higher prices to a lack of competition in the Canadian grocery industry.

Most Canadians buy groceries in stores owned by a handful of grocery giants, with Canada’s three largest grocers — Loblaws, Sobeys and Metro — collectively reporting more than $100 billion in sales and $3.6 billion in profits last year, the study found.

The Competition Bureau’s investigation sought to find out to what extent high levels of concentration in Canada’s grocery industry was contributing to soaring levels of food inflation — a trend that continues to cause pain on Canadian household budgets.

As Anne Gaviola explains, this comes in response to persistently high food inflation, impacting household budgets across the country.

For more info, please go to https://globalnews.ca/news/9795510/canada-competition-bureau-grocery-prices-study/

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#GlobalNews #Grocery #Canada
Category
U.S. & Canada
Tags
global news, grocery prices, food inflation
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