French supermarkets to cap prices

After months of pressure from the likes of consumer groups to force supermarkets in Spain to cap the prices of essential goods, that pressure may not intensify after France has made the decision to do so.

Inflation continues its upward path in Europe, which has caused the price of many products to continue to rise, especially food.

As in Spain, in France they have also suffered an increase in the shopping basket, but to alleviate the increases, Emmanuel Macron ‘s Executive has reached an agreement with supermarkets.

As explained by the Minister of Economy Bruno Le Maire on Twitter, the Executive and the food chains have sealed caps on the prices of basic foods.

As of this same month of March, the so-called “anti-inflation quarter” will be created and it will be each supermarket that decides which products are included in the list of foods at reduced prices.

“To protect the French against food inflation, we have found this morning an agreement with the big distribution: engaged in meeting an « anti-inflation quarter », starting on the month of March.”

— Bruno Le Maire (@BrunoLeMaire) March 6, 2023

The minister explained that the products selected by each chain will have “the lowest possible price” and it will be at the expense of distribution margins, it will not affect the benefits of farmers or industrialists.

A plan that will mean “hundreds of millions of euro” to the chains this quarter. An initiative that he considers will be “effective” when orchestrated in a “massive” way.

Regarding the start-up, it has announced that it will be in “the next few days” and all the products that each supermarket includes in its list must be identified with the “anti-inflation quarter” label.

According to the details provided, for now the measure will be in force for 3 months.