Senate committee to issue report on differing prices in Canada and the U.S.

OTTAWA – Shoppers wondering why a stronger loonie has failed to level prices in Canada and the United States for many products may get some answers today.

A Senate committee that held hearings on price differences between goods in the two countries is set to release its report.

The Senate finance committee heard a variety of reasons why the same goods often have higher price tags in Canada despite the stronger Canadian dollar.

Finance Minister Jim Flaherty told the committee he wants Canadian consumers to benefit from the higher loonie.

The minister has conceded, however, that government policies such as tariffs may be part of the reason for the discrepancy.

The loonie closed Tuesday at 100.38 cents U.S.