Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
NEWS

France leans on retailers to help consumers cope with food prices

Published On :

By Dominique Vidalon

PARIS (Reuters) -France’s finance minister urged food retailers on Monday to do more to help consumers cope with high prices, as the government leans on them to agree to sell an anti-inflation basket of everyday essential goods at knockdown prices.

“The rise in food prices is a major concern and everyone must take its share, including retailers,” Bruno Le Maire told RTL radio.

The state must do its share but retailers must also do more,” he added.

The government wants big retail chains such as Carrefour, Casino and the family-owned grocery dynasties Auchan and E. Leclerc, to sell a basket of about 50 everyday items at purchasing price from next month.

However, only smaller chains such as discounter Lidl and Systeme U, which launched its own action plan covering 150 private label products earlier this month, have agreed to the government initiative, which is not mandatory.

Some retailers such as Carrefour say they have already taken action by blocking prices on a set number of goods.

Others, including Auchan, have since responded by launching their own initiatives, saying there was a need to focus the basket more on fresh products such as meat, fish, fruits and vegetables.

The INSEE official statistics agency forecast last week that food price inflation would remain at 13% through the first half of the year.

Food prices were expected to become a bigger driver in the coming months of overall inflation, which was forecast nonetheless to ease from 6.0% in January to 5.0% by June.

The finance ministry conducted an investigation into food retailers’ margins last year, but did not find evidence of price gouging.

(Reporting by Dominique Vidalon; Additional reporting by Leigh Thomas; Editing by Sudip Kar-Gupta, Tassilo Hummel and Shounak Dasgupta)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts