Canadian food retail giant Loblaw has announced that it’s imposing a price freeze on more than 1,500 items from its No Name brand.
Effective today and until the end of January 2023, all No Name product prices will remain the same. Loblaw says the move comes “in an effort to help customers deal with some of the food inflation Canada has ever seen.”
Loblaw President and Chairman, Galen Weston, shared the news in a statement emailed to customers on Monday.
Loblaw Companies Limited
“I’m reaching out today to address an issue that’s top of mind for most Canadians: food prices,” Weston began. “The price of an average basket of groceries is up about 10% this year… and almost 15% over two years. For some items — like butter, apples, soups, and chips — prices are up much more than that.”
He further shared that the reason for heftier grocery bills is higher supplier prices for stores. “Suppliers’ basic costs are way higher than they’ve been in decades — no different than costs like the gas in your car, or your rent or mortgage.”
According to his statement, Loblaw will continue to lower prices in the weeks ahead, so keep an eye on those flyers and your PC Optimum offers.
The price freeze will cover fresh produce, dairy items, and pantry items, as well as essentials such as paper towels and toilet paper.
It’ll be applicable at more than 2,400 Loblaw stores across the nation. That includes Loblaws, Zehrs, Real Canadian Superstore, No Frills, T&T, Atlantic Superstore, Maxi, and Shoppers Drug Mart.
The No Name brand line boasts saving their customers around 25% of their grocery bills when compared to other name brands.
But with the price freeze planned to last just over three months, shoppers are wary.
Loblaws is putting a price freeze on 1500 of their no name products until January..and the news is praising this move. They’ve jacked up the price EVERYTHING including no name products. This solves nothing. Investigate them!
— @suzieq (@SuzieqVayglo) October 17, 2022
No Name products have had some of the biggest percentage price increases in the store.
— Emo Support Goose🌎 (@Pablonorm) October 17, 2022
According to data released by the Angus Reid Institute in August, the pressures of inflation have also pushed four-in-five Canadians (78%) to believe that grocery stores are taking advantage of inflation to make more profit.
Member of Parliament Alistair McGregor noted that the timing for the announcement was “interesting.”
“On the day that the House of Commons is set to vote on the NDP’s motion targeting profit-driven inflation in the grocery and other sectors, we get this announcement of a price freeze from Loblaws,” he said on Twitter.
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