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February 21st, 2023

As inflation calms, NDP say corporate greed still a factor in rising food prices

NDP Food Price Inflation Critic Alistair MacGregor made the following statement after news that while inflation is settling, food prices are up 11.4 per cent:

“Families are doing everything right - and still they’re having to cut back on the bare necessities to afford their grocery bills. But as inflation stabilizes, food prices are still climbing: making the role of greedflation clearer than ever.

While families are deciding if they can afford the more than 35 per cent hike on a head of lettuce - grocery CEOs are making billions in profits. In fact last year, Loblaws made an extra million dollars a day. Grocery CEOs are making more than ever, while you’re being asked to make sacrifices on the healthy food your family needs.

It’s wrong. And what’s worse is that the Liberals are standing by and letting it happen. They’ve refused to make CEOs pay what they owe by introducing a windfall tax on excess profits, letting the ultra-wealthy keep upping prices. Of course, Pierre Poilievre’s Conservatives won’t help — they believe in bigger profits for corporations fueled by even lower paycheques for workers.

That’s why New Democrats are fighting to get to the bottom of the corporate greed making life difficult for Canadians. In the fall, we got all members of parliament to admit that corporate greed is fueling high costs, and just a few weeks ago we pushed to force grocery CEOs to testify on increasing food costs in committee. We can stop incentivizing and rewarding corporations for ripping people off - and New Democrats are fighting for this so that you aren’t facing the brunt of CEOs’ greed.”