Galen G. Weston CEO, chairman and president of Loblaw Companies Limited speaks during the company's annual general meeting in Toronto on May 3, 2018. The CEOs of Canada's largest grocery store chains will appear before a parliamentary committee today to answer questions about the rapid rise in grocery prices. THE CANADIAN PRESS/Nathan Denette
OTTAWA – The CEOs of Canada’s largest grocery store chains will be before a parliamentary committee today to answer questions about the rapid rise in food prices.
The CEOs and presidents of Loblaw Cos. Ltd., Metro Inc. and Empire Co. Ltd. – which operates chains including Sobeys, Safeway and FreshCo – are set to testify before the House of Commons agriculture committee this evening as part of its study on food inflation.
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.
That’s nearly double the overall rate of inflation, which was 5.9 per cent that month.
Other executives from the companies have already testified, but New Democrats in particular signalled their dissatisfaction with the absence of the CEOs themselves.
The CEOs of Loblaw and Empire are expected to appear in-person, while the CEO of Metro will appear via teleconference.
This report by The Canadian Press was first published March 8, 2023.
