Industry Minister François-Philippe Champagne says he is ready to announce the initial commitments he has secured from grocers to stabilize food prices.
We know Canadians are frustrated with the rising food prices.
— François-Philippe Champagne (FPC) 🇨🇦 (@FP_Champagne) October 5, 2023
That’s why we’re implementing solutions to stabilize food prices.
We will continue to work with all players in the food industry to stabilize food prices in Canada and make life more affordable. pic.twitter.com/d1G7n9X3mb
The Liberal government called on Canada's major grocers last month to present a plan to stabilize prices by Thanksgiving, or face consequences.
Champagne told a conference hosted by the Competition Bureau in Ottawa that the announcement is coming later on Thursday.
"What you will see today is their commitments with an initial plan," Champagne said in French.
He is scheduled to hold a news conference alongside other cabinet ministers Thursday afternoon.
Rising grocery prices have been a major pain point for Canadians and tend to disproportionately affect lower-income families who spend more of their income on food.
Grocery prices in August rose 6.9 per cent from a year ago, while the overall inflation rate was four per cent.
The Liberals are also pursuing changes to the Competition Act, which Champagne is calling a first step toward modernizing the law.
