Loblaw Companies Ltd., Canada’s largest grocer, is freezing prices on no-name brand items until the end of January 2023 to help give Canadians some relief from inflation.
The price freeze will be applied to more than 1,500 no-name items sold in over 2,400 stores across Canada, such as Shopper’s Drug Mart, No Frills, Maxi, and Zehrs.
Galen Weston, CEO and executive chairman at Loblaw, said suppliers are raising prices, and “the truth is most are reasonable.”
“The price of an average basket of groceries is up about 10 percent this year…and almost 15 percent over two years. For some items—like butter, apples, soups, and chips—prices are up much more than that,” Weston said in an Oct. 17 press release….