Home Business Canadian food prices to increase as blackout on hikes ends

Canadian food prices to increase as blackout on hikes ends

by News Desk
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Toronto –

Grocery prices are expected to hit stores across Canada soon after the blackout of price hikes during the holiday season ends.

Last fall, Loblaw Cos. Ltd. announced it would freeze prices on all of its No Name products through January 31st, while Metro Inc. lowered prices on most private and national branded products through February 5th. announced to put it down. .

The lifting of the price freeze comes amid growing consumer anger over soaring food prices in Canada and increased scrutiny over strong grocer profits.

However, the grocery chain argues that food profit margins have remained flat and that supplier prices are simply rising.

Loblaw spokeswoman Catherine Thomas said food inflation continues and the cost of stocking store shelves continues to rise each month.

The company, which operates multiple banners such as Zehrs, Provigo and No Frills, will continue to keep many prices flat and switching to No Name will save thousands of the average family this year, she says. .

This report by the Canadian Press was first published on February 1, 2023.

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