In sharp increase, inflation on food products amounted to 15.9% over one year in March, according to the latest data from INSEE. Fruits, vegetables, pasta, fish and meat are becoming almost difficult to access for many French people. Some force themselves to change their eating routine in an attempt to save money. These efforts will apparently have to continue, and this for several months. At the beginning of April, Emmanuel Cannes, price and inflation expert at NielsenIQ, affirmed that “the end of double-digit inflation would not take place until mid-2023”, in other words at the time of the summer. Negotiations between large retailers and manufacturers were the major point of his remarks.
Executive, specialists or representatives of large retailers all agree to say the same thing: “Food prices will be tough until the end of the summer” as Emmanuel Macron confides in remarks made to Parisian in the edition of this Monday, April 24. Michel-Edouard Leclerc, chairman of the strategic committee of Leclerc stores, agrees with the words of the President of the Republic, since according to him this increase will continue “until July-August”.
Bruno Le Maire had however demanded that a negotiation between the representatives of the large distribution and the industrialists take place as soon as possible and in the right direction. The former seem determined to negotiate while the industrialists are struggling to show their involvement: “we don’t feel a strong commitment from the industrialists to participate, that’s the problem”, as the president of the U system, Dominique Schelcher, pointed out for Le Figaro.
Unfortunately, if this abortive negotiation dynamic continues, the food players will meet again at the end of May, for discussions in Bercy under the leadership of the Minister of the Economy, Bruno Le Maire.
