October 3, 2022

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French food giant freezes prices to curb inflation - VG

French food giant freezes prices to curb inflation – VG

Brakes: Carrefour freezes prices on many products to keep inflation from accelerating.

French supermarket chain Carrefour is freezing the prices of 100 everyday items to help consumers cope with rising inflation. The Norwegian chains are tight-lipped about their future plans.

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The French price freeze comes after pressure from President Emmanuel Macron’s government, which has called on the business community to contribute to curbing price rises, reports said. Reuters.

Inflation in France is at 6.8 percent on an annual basis, the highest level since the early 1990s when the French began to follow the EU’s system of calculating inflation. In Norway, too, annual consumer price inflation is now in place 6.8 percent.

Compared to July last year, Norwegian food prices are now 10.4 percent more

Inflation in France is lower than in many EU countries because the French government has set a price ceiling on electricity and gas prices.

Price freeze till November

Carrefour is freezing prices on many grocery items, including everything from canned sardines to rice, hygiene products and washing-up liquid. According to Reuters, the price freeze will last until November 30.

Other French companies have come up with similar measures following the government’s call. In July it became clear that the oil company Total energies Pump prices drop in France from September 1 and throughout the year Shipping company CMA CGM Imports from Asia to France reduce duty by 750 euros per container.

This comes after the government aired plans to increase taxes if companies don’t voluntarily cut prices.

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Another French supermarket group, Leclerc, froze prices on 1,200 of its most popular products between May and July. In April, British supermarket chains cut back Asda and Morrisons Prices of many items are unavoidable.

Inflation has soared around the world since Russia’s invasion of Ukraine led to record high prices for gas and electricity.

According to grocery expert, Østein Foros According to the Norwegian School of Economics, the biggest price increases for groceries in Norway usually take place between February 1 and July 1. Prices slowly decline over the next three to four weeks as chains compete with each other on price before leveling off again. Significant in a normal year.

Kiwi is running the campaign

Kiwi says they’re slashing prices on more than a hundred everyday items on Monday, August 8, and the campaign will run until September 4.

– The price cuts include everything from fish cakes, chicken fillet, broccoli and cauliflower to Julius roti, mackerel in tomato and skyr, according to Kiwi’s communications manager Christine Arwin.

– But raise the price again after next week?

– For reasons of competition, we cannot say anything about future prices, but we will make sure that we are the cheapest, says Arvin.

– Did you drastically increase the price on July 1?

– We have never had a price hike like the one we got on July 1 before. This was announced by several suppliers and unfortunately the price had to be increased, but we did not increase more than necessary. Even though the price has gone up, our profit has gone down, says Arvin.

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In the current campaign, a six-pack of 1.5 liter Pepsi Max costs NOK 11.50 One and a half liters Bottle. This price ends this week. At VG’s Easter food exchange, a one-and-a-half-liter bottle in a four-pack cost NOK 15.

In VG Sweden-Norway fight in August At Eurocash in Töcksfors a one and a half liter bottle in a pack of four cost SEK 8.71.

Koop says they are working with different scenarios.

– More to come tomorrow (Jupiter, red note.), communications director Bjørn Takle Friis tells VG.

This is the response we get from Rema 1000:

– We cannot comment on future pricing, but Rema 1000 should always be cheaper for groceries in Norway, category and purchasing director Line Aarnes writes in an SMS sent via the information department.