If you look at wholesale prices and retail prices in Canada versus, say, the U.S., you will see that the gap is incredibly narrow. There's just no room. Wholesale prices have increased almost 40% more than American wholesale prices in the last five years. I'm talking about food here. In the United States, when you look at Kroger, Albertsons or even Walmart—its food division—you see that this gap is significantly higher, so when wholesale prices go up, they do have some room. In Canada, most grocers.... I know that a lot of people like to blame grocers for exaggerating and profiteering, but we just don't see the evidence. When wholesale prices go up, for a variety of reasons—perhaps the carbon tax may be part of that equation—grocers have no other choice but to push prices higher to protect margins.
On October 31st, 2024. See this statement in context.