Grocery Greedflation Leaves Families Paying More for Food

0
126


OTTAWA, Sept. 28, 2022 (GLOBE NEWSWIRE) — As Canadian households wrestle to afford their grocery invoice and as earnings for grocery chains develop, Canada’s unions are calling on governments to take motion on greedflation and the position it has performed fuelling the continued inflation disaster.

“Rising prices on family essentials is making life so difficult for families today. But it’s not a new problem. Food price inflation has led general inflation for decades, with the average grocery bill rising an astounding 70% in the past twenty years,” stated CLC President Bea Bruske. “At the root of this problem is corporate concentration. The few companies that control much of the Canadian market have taken advantage – leading to record profits.”

Bruske famous how two corporations, Cargill and JBS Foods, slaughter 95% of Canadian cattle. Another two corporations, Weston Bakeries and Canada Bread, make up 80% of our nation’s bread market. Meanwhile, Loblaws, Sobeys, Metro, Walmart, and Costco maintain a mixed nearly 80% of Canada’s grocery-market gross sales.

“Canada has one of the most concentrated food systems in the world. This means food corporations have the power to raise prices and extract huge profits,” stated Bruske. “The government must step in, determine the role corporate concentration and pandemic profiteering is having on rising food prices, and take strong and direct action to address the problem.”

Bruske added that this may begin by supporting the NDP’s movement that shall be tabled on the Standing Committee on Agriculture and Agri-Food calling for a research on profit-driven inflation within the grocery sector and inspecting report earnings of enormous grocery chains’ CEOs whereas workers’ wages are stagnant and the price of groceries retains rising.

See also  Prime Minister Shri Narendra Modi dedicates to the nation the 600 MW Kameng Hydro power Station implemented by NEEPCO Ltd., a Mini Ratna Power PSU under Ministry of Power

“We urge the government to work on policies that ensure workers and their families are not made to pay for an inflation crisis they did not create,” concluded Bruske. “It’s time greedy companies that are driving up prices and earning huge profits are made to pay their fair share.”

To organize an interview, please contact:
CLC Media Relations
media@clcctc.ca
613-526-7426



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here