Economist debunks supermarkets’ claim they’re not profiting from food inflation

If such were the case for food sales in Canada, it might be a plausible explanation for the food retail corporations’ huge increases in profits. The volume of grocery sales has not increased; it has declined of late. Domination of food retail by a tiny handful of firmsCanada’s food retail industry is dominated by a tiny number of firms, which constitutes what economists call an oligopoly. The powerful oligopoly that controls Canada’s food retail industry is one reason retailers’ profits have gone up, despite their declining sales volumes. The economist does add, charitably, that the food retail industry is not the most flagrant Canadian case of profiteering on inflation.