As food prices have risen, so have the profits at Canada’s three largest supermarket chains. None of the three dispute their margins have grown, but all say attributing gains to increased markups is “simply inaccurate.”
has found that Canada’s three largest supermarket chains are actually making money from inflation.
Grocery prices have been rising faster than overall inflation because of the disruption of labour, supply chain and manufacturing costs, and a war in Ukraine, but there’s another factor driving prices up — profit. A deep dive into the financial statements of Loblaw Companies Ltd., Empire Company Ltd. and Metro Inc. reveals that these grocers are raising prices more than they have to and making Canadians pay for it.
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