Canada's biggest grocer is freezing prices on all its No Name products until next year as double-digit food inflation sends grocery bills spiralling.
Loblaw Companies Ltd. says it has locked in prices of the popular house brand, which includes more than 1,500 grocery items, until Jan. 31, 2023.
In a letter shared with customers Monday, Loblaw chairman and president Galen G. Weston says the price of an average basket of groceries is up about 10 per cent this year with some items like apples, soup and chips up even more.
He says ``maddeningly,'' much of this is out of the company's control as food suppliers pass on higher costs to Loblaw.
Weston says while the grocery chain is pushing back against unfair price increases, most are reasonable and stem from increases in basic costs for suppliers.
He says that's why Loblaw has decided to focus on what it can control and is locking in No Name prices and promising more deals in the weeks ahead to provide relief from escalating food costs.