Bruno Le Maire announces the blocking of the price of 5,000 items in stores

by time news

2023-08-31 14:57:59

The Minister of the Economy Bruno Le Maire announced on Thursday August 31 that the price of 5,000 references in stores would not increase or decrease and that negotiations between manufacturers and supermarkets for 2024, which normally begin at the end of the year, were going be anticipated.

“The Goal” of the government is to obtain “price reductions from January 2024”said Bruno Le Maire on France 2 after meetings with players in the French food chain on Wednesday and Thursday.

Industrial prizes

He demanded a “mandatory and immediate repercussion” the drop in wholesale prices on shelf prices, which will have to be checked by the Directorate General for Competition, Consumer Affairs and Fraud Control (DGCCRF), a service of Bercy.

The minister also attacked industrialists who, in his view, “could do a lot more” against soaring prices, citing the giants Unilever, Nestlé or Pepsi. On the other hand, he hailed manufacturers who have “played the game” by announcing price cuts, such as the pasta specialist Barilla or the oil giant Avril, a company whose president Arnaud Rousseau has just taken over as head of the majority agricultural union FNSEA.

Food driving inflation

The government, through the Minister Delegate for Trade Olivia Grégoire, announced in April “a visible drop in prices on the shelves” supermarkets at the start of the school year, but the bill remains painful for consumers.

The government hoped that prices could fall following renegotiations between distributors and agri-food manufacturers, who negotiate each year from December until March 1 the conditions of sale for a large part of the products sold throughout the rest of the year. in large areas.

Review rates

During the last episode concluded last March, the average price paid by supermarkets to manufacturers rose by 9%. But the price of a number of raw materials has since fallen and the government has called on the various parties to get back around the negotiating table to review the prices.

According to the distributors, very few of their industrial suppliers have played the game of these renegotiations. The main drivers of inflation in recent months, food prices jumped 11.1% year on year in August, a slower rise than in July (12.7%) but still significant.

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