A New Price Freeze On No Name Products Aims To Rescue Canadians From Grocery Inflation

Whether you're shopping for staples or a sweet treat, Canadian groceries are getting increasingly expensive as the country copes with rising inflation. Many people are struggling to feed themselves with no clear end in sight. In response to these pressures, Loblaw announced their new initiative to freeze the prices of over 1,500 items from the no name brand.

To be clear, this absolutely does not constitute a reduction in prices and it will only last until January 31, 2023 — just over three months of relative savings. "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," Loblaw President and Chairman Galen Weston said in a press release.

The no name brand is certainly popular, with a presence in over 2,400 stores, according to Loblaw. It also claims to be 25% cheaper than other name brands on average. The brand offers a wide range of staple foods like oils, flours and fresh produce, which are among the grocery items which have increased in price most for Canadians lately.

It's not immediately clear why the freeze is set to end in January of next year, one month after Loblaw Companies Ltd.'s fourth financial quarter ends. While food inflation likely won't have disappeared by February, this measure from Loblaw could still have an impact on some shoppers' wallets.

It's possible Loblaw will raise some prices after this freeze is over, given the pressures facing them all down the supply chain: increased fuel and labour costs, intense weather and "global conflict," as mentioned in the company's press release, are inevitable even for the most powerful of corporations.

For now, Canadian shoppers can benefit from slightly more price security, as we hope for some economic relief in the months ahead.

This article's cover image was used for illustrative purposes only.