Actions to increase competition would encourage lower prices and more choice for Canadians.
GATINEAU, QC, June 27, 2023 /CNW/ - Grocery prices have increased at their fastest rate in more than 40 years, and Canadians are feeling the pinch.
Today, the Competition Bureau has published its market study report ? Canada Needs More Grocery Competition ? which recommends that all levels of Canadian government act to increase competition in the grocery industry.
The report highlights the findings of the Retail Grocery Market Study that the Bureau launched on October 24, 2022. It examines the state of competition in the grocery industry and identifies barriers to increasing competition. It also explores the potential for independent grocers, international grocers, and emerging business models to deliver more competition, innovation, and choice to Canadians.
The report makes four recommendations to governments to meaningfully improve competition in the grocery industry:
"As we have witnessed the highest cost-of-living increases seen in a generation, Canadians are recognizing the relationship between a lack of competition and rising prices. By acting now, governments at all levels can take steps towards creating a more competitive grocery industry. Competition can help lower prices and make life more affordable for Canadians."
Matthew Boswell
Commissioner of Competition
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau