Loblaw, Walmart face heat on what they are doing to stabilize food prices
Galen G. Weston says “we know we all need to do more to help” as he and the head of Walmart Canada appeared back to Ottawa to explain their plans to stabilize food prices.The appearance comes just hours after a new 2024 Food Price report from Canadian researchers suggested grocery prices are expected to rise next year, but not at the same pace as was seen in 2023 as inflation cools.The researchers estimate food prices will increase by 2.5 to 4.5 per cent in 2024.
This translates to a family of four spending $16,297.20 on groceries, according to the report, amounting to an increase of about $701.79 compared to last year.Weston stressed Loblaw is working to ease the prices on items including bread, milk, butter and chicken. He says these make up 10 per cent of grocery sales at Loblaw stores.
Read more on globalnews.ca
