Industry Minister François-Philippe Champagne says grocers will offer discounts, price freezes and price matching as an initial step to stabilize grocery prices.
But the minister did not provide any other details, including what products will be subject to promotions.
The Liberal government called on Canada’s major grocers last month to present a plan to stabilize prices by Thanksgiving, or face consequences.
Rising grocery prices have been a major pain point for Canadians and tend to disproportionately affect lower-income families who spend more of their income on food.
Grocery prices in August rose 6.9 per cent from a year ago, while the overall inflation rate was four per cent.
Champagne announced other steps the government is taking, including tasking the Office of Consumer Affairs to establish a “grocery task force” that would monitor the implementation of the grocers’ plans.
This report by The Canadian Press was first published Oct. 5, 2023.