4 in 5 Canadians believe grocery stores are taking advantage of inflation to make increased profits

According to a new study by the Angus Reid Institute, 4 in 5 Canadians (78%) believe that grocery stores are taking advantage of inflation to make increased profits.

Just 7% of Canadians believe that grocery stores are not taking advantage of inflation, and that their increased profits are due to good management.

“Grocery prices have been a cause of heated debate in recent months. All three of Canada’s largest grocery conglomerates — Loblaws, Metro and Empire — have enjoyed increased profit margins as inflation has ticked upward. One investigation found that the rate of price increases at those grocers outpaced the rate of inflation, suggesting that these companies may be profiting in excess with inflation as a guise for price hikes.”

Approaching four-in-five (78%) say grocery stores are taking advantage of inflation to make increased profits. Fewer than one-in-ten (7%) believe instead the increased margins are due to good management by grocery chains.https://t.co/aFV5I0B5tT pic.twitter.com/dLekoxkh6T

— Angus Reid Institute (@angusreidorg) August 22, 2022

NDP leader Jagmeet Singh has frequently highlighted greed as the cause of the record-breaking profits by Canadian Tire and Walmart over the past year.

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