'At Loblaw, none of those profits came from higher food margins. Our retail prices have not risen faster than our costs,' said Galen Weston From alicjawithaj
) testified before the House of Commons agriculture committee on Wednesday as part of an investigation into food inflation.
"At Loblaw, none of those profits came from higher food margins. Our retail prices have not risen faster than our costs," Weston said. The persistently high prices have led to increased pressure and scrutiny on grocery retailers. In addition to the agriculture committee's study on food inflation, the Competition Bureau announced last October that it would examine grocery competition in the country and whether it has driven food prices higher.Jagmeet Singh, leader of the New Democratic Party
"We have families that are struggling to buy food for their kids in this country, a G7 country, and they look at you and they see you making record profits. How can you justify that when families are struggling to put food on the table for their kids?" Singh said. "How much profit is too much profit?"
"The truth is we are at the end of a very long food supply chain that has economic inputs at every step and stage." "I hope all members of the committee recognize that the entire supply chain is in an unprecedented period of prolonged stress. Focusing on grocers will not solve the problem of food inflation, because we are not causing it and we are not benefiting from it."previously testified before the same committee in December
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