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

• More data is needed to understand food price dynamics across Canadian food systems, comparing mainstream and local markets. • The study compares food price trends in local and mainstream systems using mixed methods and five years of price data. • Research includes price data analysis over five years and vendor interviews to explore pricing trends in food systems. • Farmers’ markets showed smaller price increases than grocery stores, despite facing similar rising input costs. • Farmers’ markets had flat or declining margins, while grocery stores saw rising margins despite rising costs. 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.