The increase in food prices shocked France

Published 2023년 6월 11일

Tridge summary

French Finance Minister Bruno Le Maire announced a initiative to reduce the prices of hundreds of products for French consumers, following the backlash against rising supermarket prices despite falling raw material costs. The plan, supported by 75 food companies including Unilever, threatens financial sanctions for companies that fail to lower prices, affecting 80% of the food consumed in France. The price reduction, affecting products like pasta, chicken, and vegetable oil, is set to take effect in July, with exceptions for beef and milk. This move is part of wider efforts by European governments, including Hungary's mandatory price reduction of basic food items, to combat high food prices caused by the Ukraine conflict and increased wages.

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Original content

According to ISNA, French Finance Minister Bruno Le Maire said after securing the commitment of 75 food companies, including Unilever, to reduce the prices of hundreds of products, French buyers will have to pay less for their food from next month. Companies producing 80 percent of what French people consume could face financial sanctions if they don't comply, Lemmer said. The French government was outraged by the price increase in supermarkets in recent months; Although the costs of many raw materials used by food manufacturers have decreased. France's finance minister has previously warned that food companies will be taxed on their profits if they do not pass on their lower costs to consumers. After meeting with representatives of the food industry, Lomer announced that the price of some items will be reduced in July. He said that pasta, chicken and vegetable oil are among the products whose prices will decrease, but the costs of beef and milk will not be affected by this move. ...

Source: Isna