As the Loblaw price freeze on No Name products ended, Federal NDP leader Jagmeet Singh called on the Justin Trudeau government to control “greedflation” by big grocery chains.
“Last October, after pressure from the NDP, Loblaw announced that they would freeze some grocery prices,” Singh said in a media statement. “The price freeze shows that grocery giants manipulate how much we pay. Their profits have skyrocketed. They’ve been using inflation as an excuse to hike prices higher than they need to. That’s greedflation.”
Singh says that with the freeze ending, price will go up again and “families are going to have to take more out of their grocery carts, or rack up a bigger bill at the till”.
He holds Trudeau and the Liberals responsible for the high cost of living and recommends a windfall profits tax to disincentivize gouging.
“For months, the NDP has called out grocery store CEOs who earn millions in bonuses, and we’ve been calling for a windfall profits tax to disincentivize gouging.The Liberals have the power to hold to account CEOs of big grocery chains, leading to lower prices for you,” Singh added.