👉Finance Minister Chrystia Freeland advocates for increased competition in Canada's grocery sector as consumers grapple with rising food prices, following higher sales and profits reported by major grocers Loblaw and Metro. Freeland emphasizes the need for significant changes to Canadian competition law to stabilize food prices, expressing willingness to utilize tax policy and all available tools. Loblaw's third-quarter profit rose to $621 million, and Metro's fourth-quarter profit increased to $222.2 million. As Canadians seek to save on food costs, both companies are converting stores to discount banners, experiencing higher sales growth in private-label brands. The federal government previously urged major grocers to stabilize food prices, but Conservative Leader Pierre Poilievre questions the efficacy of such efforts. The Competition Bureau underscores the importance of increased grocery sector competition to control food prices. Legislation strengthening the Competition Bureau's powers has been introduced in September, aiming to enhance market studies and prevent collaborations detrimental to competition.✅ . . #GroceryCompetition #FoodPrice #CanadianEconomy #CompetitionLaw #TaxPolicy #ConsumerCosts #InflationChallenge #mnm #malayalisnearmeapp #canadaupdate #canadanews