Costco executive tells MPs it has not sought to increase profits amid inflation

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Costco executive tells MPs it has not sought to increase profits amid inflation
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The Bank of Canada raised interest rates at a breakneck pace over the past year in an effort to quell inflation, but food inflation has been persistent.

Grocery inflation has been outpacing overall inflation, with prices rising almost 11 per cent in February compared with a year earlier.Article content

Conservative MP Lianne Rood questioned Riel about whether Costco imposes fees, penalties or chargebacks on its suppliers. Riel was joined at the meeting by representatives from Farm Credit Canada and 100km Foods Inc. as well as David Macdonald, senior economist at the Canadian Centre for Policy Alternatives.

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