Exploring price changes in local food systems compared to mainstream grocery retail in Canada during an era of ‘greedflation’

Abstract

In the wake of the COVID-19 pandemic, rising food prices have become a defining feature of the global landscape. In high-income countries, rising food prices have been accompanied by record corporate profits, sparking allegations of “greedflation”. Policymakers around the world are investigating ways to curb rising food prices and build more sustainable food systems. Strikingly missing from this policy conversation is the role of diverse, local alternatives, like farmers’ markets in supporting more resilient food systems. This study investigates the inflationary dynamics within Canada’s local food systems compared to mainstream grocery retail. Employing a mixed methods approach, the research team analyzed price data from 223 farmers’ market vendors across Canada from 2018 to 2023 and conducted 17 semi-structured interviews with vendors. The exploratory findings reveal that most local food products experienced less inflation than those in mainstream grocery stores. The results underscore the need for policy frameworks that support local food systems to enhance food security and sustainability. The study contributes to the broader discourse on food price inflation and corporate concentration, offering insights that are relevant beyond the Canadian policy context.