On December 5th, CEOs of major grocery companies appeared in front of MPs on the agriculture committee to discuss food price inflation.

Here’s a summary of December 5th’s commons committee meeting:

  • Senior officials from Loblaws and Sobeys answered questions from the committee but MPs questioned why the CEOs themselves did not attend.
  • The committee decided to again send its invitations to Loblaw, Sobeys and Metro, but this time specifically requesting the attendance of Mr. Weston, Sobeys CEO Michael Medline and Metro CEO Eric La Flèche.
  • Throughout Monday’s meeting, the representatives for the grocery retailers said they’re simply passing on to consumers the higher prices that they’re paying to their suppliers.
  • Retail Council of Canada (RCC) and the two retailers said profit margins across the grocery industry have held steady, between 2 per cent and 4 per cent.
  • Sylvain Charlebois, whose report on “greedflation” for Dalhousie University earlier this year failed to find evidence of price-gouging, indicated that it doesn’t mean change isn’t necessary.
  • In his statement in front of the committee on Monday, Mr Charlebois called for greater transparency in the grocery industry. He also called for the quick implementation of a grocery code of conduct – which the industry is already working toward.