Industry Minister François-Philippe Champagne says the process for stabilizing food prices is 鈥渘ot like a switch you can flip,鈥� but rather one that will likely take weeks and months, after he announced an agreement with major grocers this week that he vowed will lead to steadier prices 鈥渟oon.鈥�
Champagne and the federal government have been promising action to address grocery costs for weeks, and set a deadline for the CEOs of Canada鈥檚 five largest grocery chains to come up with a plan to 鈥渟tabilize鈥� prices by Thanksgiving.
This week, Champagne said Canadians will 鈥渟oon鈥� start to see grocers taking certain measures to address prices 鈥� including price freezing, price matching, and discounts on certain products 鈥� but he didn鈥檛 say by what metric shoppers can judge whether the plan is working.
Champagne also told CTV鈥檚 Question Period host Vassy Kapelos, in an interview airing Sunday, the process of lowering prices will likely go on 鈥渇or months.鈥�
鈥淚t鈥檚 not like a switch you flip and you say, 鈥榦h, it's Thanksgiving, and suddenly everything is solved鈥�,鈥� he said. 鈥淚'll be on their back for months.鈥�
鈥淭his is day four,鈥� he added. 鈥淭his is just an initial set of measures. This is an ongoing process.鈥�
Champagne emphasized that the Thanksgiving deadline was one for grocers to come up with a plan, not to actually achieve stabilized prices by this weekend.
At this time last year, food inflation reached 11.4 per cent, the fastest rate of year-over-year growth in more than 40 years. It has since slowed 鈥� to 6.9 per cent in August 鈥� but it鈥檚 still well above headline inflation, which hit 4 per cent for the same month.
Meanwhile, the Liberals are pushing ahead with changes to Canada鈥檚 Competition Act through Bill C-56, the so-called Affordable Housing and Groceries Act, which aims to strengthen protections for Canadians when it comes to the country鈥檚 grocery sector competition.
There are also plans in the works to establish a grocery 鈥渃ode of conduct鈥� to support fairness and transparency in the sector.
But when pressed on whether the federal government should have acted sooner to implement those measures, taking into consideration the amount of time food prices have been at record-setting highs, and that they appear to now be coming down slowly, Champagne said it鈥檚 鈥渘ot about credit.鈥�
鈥淚'm saying if things happen, and we push them and we continue to push, then we're all better off,鈥� he said.
鈥淚f you say prices are going down, great,鈥� he added. 鈥淲hat I'm saying is that we've been a catalyst to say, 鈥榶ou need to do more, and you need to do it now.鈥欌��
The industry minister also said his government鈥檚 actions in the last few weeks were not influenced by the Liberals鈥� slipping popularity in the polls.
Recent data from Nanos Research shows if a federal election were held now, the Conservatives would win enough seats to form a majority government.
But Champagne said the numbers are not what pushed his government to act.
鈥淭his is about what I hear,鈥� Champagne said. 鈥淲e're acting, but look at other countries, this is an ongoing process, and no one is suggesting that we're done.鈥�
With files from CTVNews.ca鈥檚 Senior Digital Parliamentary Reporter Rachel Aiello
