Stats show that food price inflation between January 2022 and January 2023 was 11.4 percent.
Consumers report switching to cheaper brands, buying products on sale and flyer price comparison shopping and going where the price is the best instead of retail loyalty.
Anthony Durocher, the Deputy Commissioner of the Competition Promotion Branch told the House of Commons Standing Committee on Agriculture and Agri-Food committee that on October 24th they launched a market study of grocery store competition in Canada.
He notes it is not an investigation into any specific allegations of wrong doing, instead they are pro-actively looking for ways that governments can act to improve competition in the sector, because more competition means lower prices, more choice and more convenience for consumers.
Durocher says they expect to publish their findings and recommendations in June.
The Standing Committee on Agriculture heard from a number of witnesses this week, from the Competition Bureau to Statistics Canada, the Dairy Processors Association of Canada, to Maple Leaf Foods and the CEO’s of Canada's three largest domestic grocery store chains (Empire Company Ltd, Loblaw Companies Ltd and Metro Inc.).
The grocery store chain CEO’s said while they empathize with consumers, the claims that their companies are making excessive profits are not true.
To watch the House of Common's Standing Committee on Agriculture and Agri-Food food price inflation meetings click here.