The number of price-capped products in French supermarkets will double to 5,000, finance minister Bruno Le Maire said Thursday, as data revealed another month of double-digit food inflation.
Speaking to French broadcaster France2, Le Maire also criticized several multinational companies, including Unilever and PepsiCo , for not doing enough to help French consumers. The price caps, agreed with producers and distributors, aim “to definitively break the spiral of food prices,” he said, noting that the affected products made up around a quarter of a typical supermarket’s offerings.
These measures and industry commitments will be backed up by checks and sanctions, he added. Le Maire slammed “big industrial groups” for doing little to help French consumers with high prices, singling out Unilever, Nestle and PepsiCo for doing “a bit, but not much.” Without mentioning specific firms, he also criticized companies that boast of cutting prices while lowering them only by fractions of a percent.
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