National grocers pledge to assist Ottawa in stabilizing food prices

Canada’s top grocery executives have pledged to support the government’s efforts to control prices, according to Industry Minister Francois-Philippe Champagne. The executives of Canada’s largest grocery chains attended a summit in Ottawa on Monday to discuss affordability issues facing Canadians. Champagne described the meeting as historic and stated that the executives had accepted to work with the government. The aim is to bring price stability to Canada, although no specific plans were revealed. Prime Minister Justin Trudeau had warned the executives that tax measures would be considered if they failed to address food inflation. The government plans to reform the Competition Act to promote competition in the grocery sector and keep prices in check. The consumer price index reading shows that food inflation remains high at 8.5%.


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