Toronto: Canada’s biggest grocer Loblaw has stopped prices of all its No Name products until next year due to skyrocketing grocery prices amid growing inflation.
Loblaw Companies Limited says that they have stopped the increase in the prices of their famous house brand. It has imposed an embargo on price hike of over 1500 grocery items till January 31, 2023.
Sharing the letter with its customers on Monday, Loblaw’s Chairman and President Galen G. Weston said that the average basket price of groceries has gone up by 10 percent this year, while the price of things like apples, soups and chips, etc. is even worse. He said that most of these prices are not even under the control of the company as food suppliers put high prices in the lobby.
Weston said that now the grocery chain has decided to stop the illegal increase in prices, many prices are also legitimate and they come from suppliers. He said that this ban on prices will also provide a lot of relief to Canadians.