In a highly anticipated report about food inflation last week, the Competition Bureau called for more competition in the grocery sector, tying the higher prices to the limited options for consumers.
And as Canadians struggle with high inflation, Boswell said it's easy to see how competition policy "has gone from being a podium topic to a kitchen-table issue across the country."Keldon Bester, co-founder of the Canadian Anti-Monopoly Project, said inflation and a global conversation about corporate power have made people more aware of the role competition plays in their day-to-day lives.
The rapid rise of grocery prices alongside growing profits in the industry have led some to argue that firms were profiteering off inflation.found grocery margins have grown modestly yet meaningfully over the last five years, though the trend predates the current bout of high inflation. The bureau laid out the history of consolidation in the industry, arguing that it has hurt consumers.
A spokesperson for Industry Minister Francois-Philippe Champagne called the report a good first step, and said the federal government would be reviewing the recommendations to see how it can make Canadians' lives more affordable.The dangers of poor competition go beyond prices, experts warn. A study published in the fall by researchers at the HEC Montreal Centre for Productivity and Prosperity found a lack of competition is hurting productivity, too.
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