Thursday’s data on August consumer price developments in France showed that the rate of growth in food prices was still roughly double that of headline inflation. According to the statistical office, the year-on-year growth rate of consumer prices accelerated to 5.7 percent in August from 5.1 percent in July. Food prices increased by 11.1 percent year-on-year in August, but their growth slowed down from July’s 12.7 percent.
French retailers such as Carrefour and Les Mousquetaires warned this week that French consumers were cutting back on basic food purchases due to rising living costs. French retailers blame large multinationals for high prices. According to the French Retail Federation (FCD), only 25 of the 75 major consumer goods manufacturers have so far agreed to cut prices, and that only for a limited number of products, reports Reuters.
“MNCs could do a lot more,” Le Maire said. At the same time, he warned that retailers who do not pass on price reductions at suppliers to their customers could face sanctions.
The Czech government is also trying to create pressure to reduce food prices. Last week, Prime Minister Petr Fiala discussed food prices with industry representatives at the Země živitetelka international agrosalon. He stated, among other things, that the prices of butter, sugar and milk are falling in the Czech Republic, but other foodstuffs must also become cheaper. According to the Minister of Agriculture Marek Výborný, food margins must not be disproportionate.
Fiala also criticized the Agrofert concern, according to former Prime Minister Andrej Babiš, who could lower food prices with one decision. Babiš refused, according to him the chains decide the prices. Babiš owned Agrofert, then transferred it to trust funds.
Chains buy a kilo of apples for 13 CZK and sell them for 60, that’s too much, fruit growers say
2023-08-31 14:30:03
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