Grocery Retailers Pledge to Take Substantive Measures on Price Control, Says Champagne

Industry Minister François-Philippe Champagne has revealed that Canada’s major grocery store chains have pledged to take “meaningful action” to address rising food prices. This comes after the Minister held a meeting with the federal officials and CEO’s of the grocery stores last week.

This declaration comes at a critical juncture when Canadians across the country have been grappling with the economic impacts of inflation and its effect on their household budgets. The collaboration between the government and the grocery industry aims to alleviate some of the burden on consumers and ensure that essential items remain affordable.

In a media interview, Champagne said the two hour meeting which included Finance Minister Chrystia Freeland and top executives at Metro, Costco, Loblaw, Empire and Walmart was difficult at times but the two sides eventually found a common ground.

“At the end of the day, bottom line is that they agreed to take meaningful action to stabilize prices in Canada. I expressed to them the frustration of millions of Canadians,” said Champagne.

Rising food prices has been a major concern for Canadians in recent times. The spike in inflation rates, supply chain disruptions, and other economic factors has contributed to the increased cost of groceries, leaving many households struggling to make ends meet.

In response to the concerns, the Canadian government initiated discussions with major grocery retailers to explore ways to mitigate the impact of these surging costs. Champagne believes the government “fixed the goal” but left it to the firms to decide how to get there.

“We’ll wait for their plans, we’ll review them and we’ll have something to present before Thanksgiving, which is the deadline that’s been given by the prime minister,” added Champagne.