Canadian Government Study Reveals Consumers Believe Food Grocers and Producers Are Using Inflation to Justify Price Gouging
Canada
Market & Price Trends
Agustin Aponte
Published Mar 21, 2023
A new study by the government of Canada with the help of an independent research organization has found that many food producers and grocers are using inflation as an excuse to price gouge. The study found that while many consumers are concerned about rising food prices, they are skeptical of claims that inflation is driving up costs. In response, many food producers and grocers are using tactics such as reducing package sizes or changing ingredients to keep prices stable, while others are raising prices but not communicating the reasons why. The study suggests that these tactics erode consumer trust and that companies should be more transparent about the reasons behind price increases. The study also notes that consumers are increasingly interested in purchasing locally sourced, sustainable food, which may help offset the rising costs of imported products, which have seen YoY inflation.
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