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France's Le Maire: Food inflation slows in July

PARIS (Reuters) – Food inflation in France has started to ease this month and the trend should accelerate in the coming weeks, French Finance Minister Bruno Le Maire said on Wednesday.

Le Maire told BFM television that four or five major players in the food industry were still not complying with the government’s demand to cut prices, and threatened to disclose their information by next week if they did not. name.

“So far everyone is starting to cooperate… You will find that in July prices will start to drop for certain products such as poultry, grains, pasta or oils ,” Le Maire said.

“We have to accelerate to break the inflation spiral by autumn,” he added.

Last month Le Maire said he had commitments from food companies to cut prices on hundreds of products.

The government has responded to record supermarket prices hitting record highs in recent months, while the cost of many raw materials used by food companies has fallen. Food producers are down.

While the pace of food price increases across the euro zone has been slowing, it has been a major factor in keeping inflation high.



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