Agriculture committee members tasked with pinpointing the source of food inflation didn’t come much closer to reaching a conclusion as representatives from Loblaw and Empire attempted to extinguish accusations of corporate greed this week.
Lindsay CampbellSobey’s and Loblaws have both been profitable during the pandemic and were faced with questions over price inflation from the House of Commons agriculture committee.
Loblaw’s senior vice-president of retail finance, Jodat Hussain, told MPs on Monday evening that the reason prices are up is grocers buy from suppliers whose prices have gone up. “Like all grocers, Loblaw is essentially a food distributor,” he said. “We buy goods from suppliers and then sell them to customers. We are dependent on what suppliers charge us when we set our retail prices.”
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