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Grocers called back to Parliament to testify about plans to stabilize prices
(www.winnipegfreepress.com)
this post was submitted on 24 Oct 2023
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But they did what they promised! They lowered prices before Thanksgiving, when it would be most visible, and then cranked them back up on the Tuesday morning after. The grocery near me even stopped stocking popular items until after the prices were returned to usual.
Asking a business to make less money will never work. They need to be compelled by law to adjust prices and profits, and be subject to oversight and regulation.
Wonder if something like price controls would work. Like say any product sold cannot be marked up more than 3% per year. Although if the supplier increases the price by more than the stores simply won't sell it if they won't make a profit at that 3% increase.
Personally I'm fine with price controls but I think a grocery crown corp that sets prices the private chains have to compete with would be a more palatable option for most.
We need more crown corporations. Private industry isn't competitive and it's all fixed.