The country has seen food prices increase at the fastest rate since the early 1980s as inflation continues to rise.
Canada’s Competition Bureau announced Oct. 24 that it has begun a study on grocery store competition within the country. The study will examine the issues within the sector, to provide recommendations to government on how to improve competition in Canada’s grocery industry.
While several factors may be contributing to the rise in prices, such as weather, input costs, supply chain and the Russia/Ukraine conflict, the Bureau will also look at whether competition is an issue. The study will ask three main questions:
- To what extent are higher grocery prices a result of changing competitive dynamics?
- What can we learn from steps that other countries have taken to increase competition in the sector?
- How can governments lower barriers to entry and expansion to stimulate competition for consumers?
Those interested in participating are invited to submit responses to the Competition Bureau by December 16, 2022. A final report with the findings is expected in June 2023.