Major Canadian grocer says expanded price freezes will happen amid new plans to stabilize food prices
CTV
Major Canadian grocer Empire, the parent company of Sobeys, confirmed it will expand price freezes on several products between November 2023 to January 2024.
Major Canadian grocer Empire, the parent company of Sobeys, confirmed it will expand price freezes on several products between November 2023 and January 2024.
A month ago, major grocers in Canada did not confirm whether they were committed to special promotions to stabilize grocery prices despite promises by the federal government to alleviate inflation and the rising cost of living for Canadians.
Now, Empire confirmed it will be expanding its price-freezing practice to 20,000 of its packaged products in the coming months, the company said in an emailed statement to CTV News Toronto Tuesday.
"This is a meaningful step-up from prior years and has resulted in cancelling price increases on approximately 1,700 additional products initially planned to occur during this timeframe," a spokesperson for Empire said.
Empire adds it typically implements price freezes on 90 per cent of all packaged products from November to January annually, with exceptions in certain scenarios.
Price increase cancellations will remain in place regardless of any internal or external conditions that might cause prices to go up, according to the company.
The federal government gave an ultimatum to major grocers in September, saying they should present plans to stabilize grocery prices by Thanksgiving or face potential tax measures as a consequence.
