Per Bank, head of Loblaws, said food prices will rise because of Canadian 25 per cent tariffs on foods from the United States.
“While the tariff situation might be improving between the U.S. and other countries, that’s not yet the case here in Canada. In fact, we’ll be facing a large wave of tariff-related increases in the weeks ahead,” he said.
Tariff-affected items will still account for a small share of the roughly 80,000 items the company stocks, but customers will notice changes in categories including natural foods, pantry staples and health and beauty products, he said.
But Loblaws has consistently led the parade to higher prices as inflation raged through the Canadian economy last year.
