OTTAWA — Finance Minister Chrystia Freeland says the CEOs of Canada’s largest grocery store chains need to be transparent about the recent rise in grocery prices.
Food inflation has been especially crushing for lower-income Canadians, with grocery prices in January up 11.4 per cent compared to a year ago.In a news conference on Wednesday afternoon in Mississauga, Ont., Freeland said she’s happy to see that the committee will be hearing from the CEOs. The deputy prime minister said they need to explain why grocery prices have risen dramatically.
NDP Leader Jagmeet Singh has inundated his social media feeds with posts advertising his questioning of Galen Weston, the billionaire chairman and president of Loblaw. The party even created a page on its website allowing supporters to RSVP to watch it unfold. “Canadians are telling us they are struggling. They are having a hard time buying groceries. At the exact same time, these grocery stores aren’t just posting normal profits, high profits. They’re posting record profits. They’ve never done better. Their CEOs are posting massive bonuses.”
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