The Competition Bureau of Canada launches a study on competition in grocery stores.
Announcing the decision in a press release, the bureau says that with rising inflation, Canadian consumers have seen their purchasing power decline.
Statistics show that grocery store prices have risen at the fastest rate seen in Canada in 40 years.
A number of factors are thought to play a role in this increase, including extreme weather conditions, rising input costs, Russia’s invasion of Ukraine and supply chain disruptions.
Canada’s Competition Bureau will investigate the issue by June 2023.
The study will focus on three main questions:
– To what extent are rising food prices the result of changing competitive dynamics?
– What can we learn from the steps other countries have taken to increase competition in the sector?
– How can governments reduce barriers to entry and expansion to stimulate competition for consumers?
Interested parties are invited to provide submissions to the Competition Bureau of Canada on these and any other issues relevant to retail grocery competition in Canada.
The deadline for submission is December 16, 2022.