2023-08-30 10:59:15
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The Minister of the Economy Bruno Le Maire summoned distributors to Bercy on Wednesday to ask them to extend their price reduction operations.
Posted on 08/30/2023 12:59 Updated on 08/30/2023 13:43
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A customer in a supermarket on August 26, 2023 in Paris. (RICCARDO MILANI / HANS LUCAS / AFP)
The wait promises to be long for consumers. A drop in food prices is difficult to foresee before March 2024 and the end of the next negotiations with the industrialists, warned Wednesday August 30 the bosses of Intermarché and Système U, before a meeting in Bercy with the distributors in the morning.
“We hope for March” at the end of the next annual negotiations between manufacturers and distributors a fall in the prices of food products in stores, declared on RTL the boss of the Intermarché group Thierry Cotillard. “The big meeting is next March, in the meantime we take our responsibilities”abounded on Radio Classique the president of U-systemDominique Schelcher, emphasizing that by then “on the big brands, nothing will change”.
“Changing the Law”
The Minister of Economy Bruno Le Maire summoned the distributors to Bercy on Wednesday with the intention of asking them to prolong and extend their price reduction operations. He will receive the industrialists on Thursday. These price reduction operations began in mid-March as part of a non-binding commercial operation called “anti-inflation quarter” and initiated by the government.
Food price inflation began to slow in July (+12.7% over one year, once morest 13.7% in June) but remains very high. This reduction in the level of inflation does not, however, correspond to a drop in prices on the shelves, but to a less marked increase. At Wednesday’s meeting, distribution bosses intend to ask Bercy to “change the law [sur les négociations du secteur] to allow trading up or down depending on” price fluctuations on the markets, explained Thierry Cotillard.
“The difficulty of this subject is that we negotiate once a year for prices that apply throughout the rest of the year”, underlined Dominique Schelcher, denouncing a “a system that locks us in and behind which industrialists (…) take refuge”.
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