Effective today and until the end of January 2023, no-name product prices will be frozen. Food prices have risen rapidly over the past year, with increased suppliers’ costs due to fuel, labour, weather and global conflict, which are passed to retailers, and reflected on grocery shelves.
In an email to millions of PC Optimum members, Loblaw President and Chairman Galen Weston said the following:
Anyone who regularly visits the grocery store knows that over the past year, the cost of food has increased rapidly. Maddeningly, much of this is out of our control.
That’s why, to help Canadians hit the brakes on food inflation, we are focusing on what is in our control. Starting today, we’re freezing prices of all no-name products — more than 1,500 grocery essentials sold in stores across the country – until January 31, 2023.
In the weeks ahead, we’ll continue to lower prices [through PC Optimum], in our flyer and across our stores, all designed to provide immediate relief from escalating food costs.
The price freeze announcement complements the company’s ongoing efforts to bring value to Canadians. This year, the PC Optimum program is on track to provide members with well over $1 billion worth of loyalty points, more than ever before.
In addition, Loblaw has increased its support for food charities this year, adding hundreds of thousands of dollars to food banks and food recovery programs. Routinely, the company raises and donates more than $50 million to food charities, including the company’s own President’s Choice Children’s Charity as it works to feed one million children annually.
