Canada’s competition watchdog will release the findings Tuesday morning of its study looking into rising food prices and industry competition.
Canada’s competition watchdog will release the findings Tuesday morning of its study looking into rising food prices and industry competition, as Canadians continue to grapple with food costs increasing at the fastest rate in four decades while grocery stores report record profits.
“More competition means lower prices, more choices, and better convenience for consumers,” the statement said. Canadian consumers have seen their purchasing power decline and food costs climb, which has been blamed on several factors including supply-chain disruptions, the COVID-19 pandemic, extreme weather, rising inflation and the conflict in Ukraine. But the supermarket chains are facing mounting scrutiny, with critics saying they areFood prices have increased by 18 per cent over the past two years, and as of April, food prices were still 8.
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