Retail giants say food and other goods are about to get way more expensive in Ontario

Canadians stressing about their grocery bills and other basic expenses are now being warned that costs are only going to get worse, even if the rate of inflation is slowly easing.

The notice comes not from executives at Loblaws or Metro, which have become known for their high price points and higher profits during our cost of living crisis, but from leaders at a bargain chain known for its discounts. 

Dollarama's CEO told stakeholders in a call on Wednesday, per the Canadian Press, that the increased prices supermarkets and other retailers have been facing from suppliers and manufacturers are going to eventually have to be passed on to shoppers.

Dollarama CEO see loblaws and the other grocery stores making record breaking bank and said we need to get in on that action

— Sizza 🇨🇦 (@OhSizza) December 13, 2023

"[We] can only absorb so much," he said, identifying food, candy, beverages, pet items, cosmetics, cleaning supplies, first aid and health products, kitchen items — basically all basic staples — as the main pain points for the brand right now as far as cost pressures on its side of things.

This is while Dollarama reports a 30 per cent increase in profits — to total $261.1 million — in the last fiscal quarter versus the same time in 2022, credited to new store openings, as well as higher sales.

"Loblaws threatens to raise food prices even more if we complain about price gouging."

— Kevin Brackley 🌎🌍🌏💚👽😷 (@kjbrackley) November 9, 2023

Meanwhile, Loblaws chairman Galen Weston just warned consumers that prices at his company's stores will be spiking even more if the federal government imposes its Grocery Code of Conduct, ironically meant to hold the nation's few big supermarket players more accountable for things like pricing and the fees they charge to suppliers.

Economic experts, too, are predicting that "textbook demand shock" due to record high immigration and population growth will be pushing basic costs across the country even further skyward, especially for housing, while Ontario already has a cost of living that is nearly four times higher than some provinces.