The top executive at Sobeys asserted on Monday that Canada has one of the most competitive grocery retail sectors on the planet, even as Canadians continue to feel the bite of higher prices.
“Although our country’s food inflation has been among the lowest in the world, and Canada is among the most competitive nations on Earth when it comes to grocery retail, this provides little comfort to Canadians who are struggling,” Michael Medline told MPs on the House of Commons agriculture committee.
“We also have meaningful plans and development to help stabilize food prices past January, but will not discuss these publicly as they remained commercially and competitively sensitive until launched in our stores,” Medline told MPs.
The rapid run-up in grocery prices following the COVID-19 pandemic has led to the heightened scrutiny of Canadian grocers, particularly as some of them have reaped high profits.
Alistair MacGregor, the NDP agriculture critic, spoke to reporters Monday afternoon ahead of the committee meeting and said he had reviewed the major grocers’ plans to stabilize prices.
“And to tell you the truth, a lot of the information contained in these so-called confidential documents are stuff I could have found by reviewing their weekly flyers and looking with a simple Google search.”
The original article contains 664 words, the summary contains 207 words. Saved 69%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The top executive at Sobeys asserted on Monday that Canada has one of the most competitive grocery retail sectors on the planet, even as Canadians continue to feel the bite of higher prices.
“Although our country’s food inflation has been among the lowest in the world, and Canada is among the most competitive nations on Earth when it comes to grocery retail, this provides little comfort to Canadians who are struggling,” Michael Medline told MPs on the House of Commons agriculture committee.
“We also have meaningful plans and development to help stabilize food prices past January, but will not discuss these publicly as they remained commercially and competitively sensitive until launched in our stores,” Medline told MPs.
The rapid run-up in grocery prices following the COVID-19 pandemic has led to the heightened scrutiny of Canadian grocers, particularly as some of them have reaped high profits.
Alistair MacGregor, the NDP agriculture critic, spoke to reporters Monday afternoon ahead of the committee meeting and said he had reviewed the major grocers’ plans to stabilize prices.
“And to tell you the truth, a lot of the information contained in these so-called confidential documents are stuff I could have found by reviewing their weekly flyers and looking with a simple Google search.”
The original article contains 664 words, the summary contains 207 words. Saved 69%. I’m a bot and I’m open source!
Fuck me, we have low food inflation when prices have risen about 25%? What the fuck is going on outside of Canada? How high is it for everyone else?
Depends on which country. Some are equal to the inflation we’ve seen some are way worse most are nowhere near as bad as it is here.