Sobeys store announced to keep the prices constant between November this year and January 2024

Given the continued financial pressure on Canadian families due to the cost of living, a major grocery company, Empire, has announced its intention to keep the prices of thousands of its products stable until the new year.

Andrew Walker, spokesperson for Empire and owner of the Sobeys chain of stores, stated, "We are planning to maintain the prices of approximately 20,000 items from November through January 2024."

Walker added that, in addition to price stability, Empire has significant plans to stabilize prices further in February 2024. Sobeys, as a subsidiary of Empire, operates not only under its own name but also manages stores with brands such as Safeway, IGA, Thrifty Foods, and more.

This announcement comes as Statistics Canada released its inflation data for October, indicating a decrease in the inflation rate to 3.1% compared to the previous year. This reduction is notable when compared to the 3.8% inflation rate reported in September.

According to City News, the Consumer Price Index rose by 3.6% in October, influenced by factors such as mortgage interest rates, the prices of grocery store items, and housing rental costs.

Statistics Canada emphasizes that while the cost of food is increasing at a faster rate than overall inflation, the monthly rate of increase continues to decline. Food prices in October saw a 5.4% increase, down from the 5.8% recorded in September.

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