Food bank feeling the pinch as grocery prices soar
CTV
The leaders of Canada's major grocery chains insist that food price inflation is not caused by profit-mongering and that their margins on groceries have remained low.
The leaders of Canada's major grocery chains insist that food price inflation is not caused by profit-mongering and that their margins on groceries have remained low.
The CEOs and presidents of Loblaw Cos. Ltd., Metro Inc. and Empire Co. Ltd. -- which operates chains including Sobeys, Safeway and FreshCo -- appeared Wednesday in front of a parliamentary committee studying inflated grocery prices.
It is "false" to suggest that grocers are responsible for high food prices, the trio of corporate executives told members of Parliament, saying food inflation is due to global forces beyond their control.
Grocery prices were up 11.4 per cent in January compared to a year ago, nearly double the overall Canadian rate of inflation of 5.9 per cent.
In Alberta, that number was 10.4 percent compared with 2022 and nearly 17 percent compared to two years ago.
