2023-12-10 15:41:00
The battle of inflation is “not yet” won, Michel-Édouard Leclerc said on Sunday, wanting to distance himself from recent statements by the Minister of the Economy Bruno Le Maire. The latter declared, at the end of November, that “overall, inflation today has been defeated and it is a real economic success.” “He anticipates,” responded Sunday on BFMTV the president of the strategic committee of the number one distribution group in France, when asked regarding the minister’s enthusiasm.
A slowdown in price increases which “does not exceed 2.3%”
Inflation slowed sharply in France in November, to +3.4% over one year according to INSEE following +4.0% in October, thanks in particular to a slowdown in prices in services, energy, and in to a lesser extent manufactured products and food. Michel-Édouard Leclerc, on the other hand, is banking on a slowdown in price increases next year which “does not exceed 2.3%” in its brands, and the effects of which should be felt in the wallets of the French from “February March”.
“We are in the process of negotiating, we are in the process of purchasing for next year, the Leclercs are going as one man,” continued the manager, adding: “we are going to seek negative feedback from the large multinational manufacturers to compensate for yesterday’s hyperinflation. Annual commercial negotiations take place each year to set the conditions (purchase price, shelf space, promotional calendar, etc.) under which supermarkets will obtain supplies all year round from their agro-industrial suppliers.
These discussions usually conclude on March 1, but the government has decided to bring them forward by a few weeks in the hope of a quicker reflection in shelf prices of reductions in the cost of certain raw materials.
Also questioned regarding a potential takeover by Leclerc of part of the hypermarkets and supermarkets of the Casino group which is going through great financial difficulties, Michel-Édouard Leclerc simply replied that certain “members in the provinces might buy some”. “I don’t really have the right to comment on what’s happening there at the moment since it’s a listed group, a group with social issues,” he added. “We are capable of doing it, is it in our interest to do it?” he asked. “The Casino park is quite dilapidated, they have not reinvested,” he judged.
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