Breaking: Competition Bureau grocery report recommends opening Canada to international players, unit pricing requirements
Canada’s highly concentrated grocery industry, where a handful of supermarket giants dominate the market, needs more competition to keep prices down for consumers and encourage new grocers to break into the sector, the country’s competition watchdog has found.
The federal regulator found that concentration in the grocery industry has magnified in recent years, with the largest grocers increasing the amount they make on food sales. The bureau recommended four policies to improve competition in the sector and lower prices for shoppers, including an innovation strategy to support new grocery businesses and expand consumer choice.
Canadian consumers have seen their purchasing power decline and food costs climb, which has been blamed on several factors including supply-chain disruptions, the COVID-19 pandemic, extreme weather, rising inflation and the conflict in Ukraine. But the supermarket chains are facing mounting scrutiny, with critics saying they are hikingFood prices have increased by 18 per cent over the past two years, and as of April, food prices were still 8.
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