Competition Watchdog Launches Study Into Grocery Sector Amid Rising Food Prices
Canada’s competition watchdog is launching a study to examine whether the highly concentrated grocery sector is contributing to rising food costs.
“With inflation on the rise, Canadian consumers have seen their purchasing power decline,” the Competition Bureau said in a news release Monday.
“This is especially true when buying groceries. In fact, grocery prices in Canada are increasing at the fastest rate seen in 40 years.”
Grocery prices in September rose at the fastest pace since 1981, with prices up 11.4 percent compared with a year ago. That compared with an overall inflation rate of 6.9 percent.
Although the overall inflation rate has begun to drop from its peak of 8.1 percent in June, food prices have not only outstripped that but continue to rise….