The Globe and Mail reports in its Wednesday, Oct. 30, edition that grocers are not taking advantage of higher inflation to make excess profits. The Globe's guest columnist Loblaw chief executive officer Per Bank writes that the reality is that the grocery sector continues to have the thinnest of margins and be the least profitable among all major economic sectors in Canada. Mr. Bank says the focus should be on practical solutions, such as ending commercial property controls on competition. This approach could have a significant impact in today's industry environment. Mr. Bank notes that high food prices are a global phenomenon not driven by grocer profits but driven instead by suppliers suffering from supply chain disruptions, geopolitical turmoil, climate change, increased ingredient and commodity costs, and a host of other factors. Mr. Bank says the best way to meet the needs of Canadians is through healthy competition. Loblaw is competing not only against domestic players and local grocers, it is in active competition with global giants such Walmart and Costco, two of the largest retailers in the world. Mr. Bank says this is the highest level of foreign participation in the grocery sector of any country in the G7.