Meeting today to work on plan to address food inflation crisis
“It’s not an invitation,” he said in a speech to the Liberal caucus last week. “We told them to be in Ottawa next week. That’s pretty clear.”
But that five of the most powerful people in grocery are sitting down in a closed-door meeting to talk about prices shouldn’t pose any concerns, said Jennifer Quaid, an associate professor at the University of Ottawa who specializes in competition law. The grocers have argued that food inflation stems from a complex mix of geopolitical factors beyond their control, including the war in Ukraine, elevated fuel prices and global supply chain problems.
During the hearings, the committee zeroed in on the companies’ gross margins since the metric is viewed as the best test of whether a grocery chain is jacking up prices more than necessary. Gross margin measures how much revenue is left over after subtracting the cost of goods. So, the logic goes, if a grocer is simply passing on cost increases from suppliers to customers, its gross margin shouldn’t get bigger.
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