You put it in the best possible way. Obviously, Canadians want us to fight climate change. They realize this is an existential issue for them and for their children and grandchildren, and there's no doubt about that.
At the same time, Canadians understand it's a very complex supply chain. What is driving prices up? You have animal disease. You have droughts in certain growing regions. You have higher input costs. There's the war in Ukraine. We've seen labour shortages. As for profit margins over the last five years, just look at the profit margins of some of the largest grocers in the country. There are a number of factors.
The reason I think the role of the committee and the grocery market study was so important was to put light on that. I keep saying that if it's complex and complicated, just tell Canadians. I trust Canadians. They will understand that. As government and Parliament, we will take action to make sure we do everything we can to help stabilize prices in Canada. We're talking with our international partners.
Just look at what the United States did yesterday. The Americans are also fighting for consumers. They're looking at competition. The biggest gift we can give the market will be around competition and the code of conduct. This is what we heard loud and clear from market participants, especially the independent grocers, who said, “We need to reform competition. We need a grocery code of conduct. Let us compete, and then we'll be able to better serve.” Competition means more choice and more innovation, and that translates to better prices.
It's true in Australia and New Zealand. It's true in markets around the world. That's what we're looking at.