Canada-U.S. price differences to be studied

If you're frustrated with paying more than Americans for the same products, take heart: the Senate Finance Committee is looking into it.

Finance Minister Jim Flaherty said the committee has agreed to do a study and report on why products sold in Canada cost more than they do in the U.S., despite near parity in the dollar.

Many products – including books, magazines and clothes – cost less in the U.S. Consumers who dealt with a much lower dollar for years have been voicing frustration over the continued difference.

Heading into a Conservative caucus meeting, Flaherty said he's looking forward to the study. Earlier this week, it was revealed he'd sent a letter to the committee asking them to look into the matter.

Asked what he can do about the issue, he said as finance minister, he is responsible for tariffs.

"Sometimes people in the retail business blame tariffs and so on, so I want to see. And I want to know what the facts are, and I'm looking forward to the Senate committee getting to the facts," he said.

"Part of it is just making sure the participants in the retail economy come clean about how they price."

The study won't start for at least another few weeks, however, since Parliament doesn't resume until Sept. 19.