Walmart and Costco in Canada not making food inflation worse: experts
TORONTO — Experts say the Canadian presence of American retail giants such as Walmart and Costco isn't likely to blame for rising grocery prices.
"It's not as though American grocers are taking advantage of Canadians and Canadian grocers aren't. The grocers are going to charge what they can get away with, what the market will bear." Walmart Canada’s gross profit rate for its food business and its total operating profit in dollars declined last year, he added.
Canadian grocers including Loblaw chairman and president Galen Weston told the committee earlier this month that food inflation is not being caused by profit-mongering, insisting their margins on food have remained low.
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