Inflation: Bruno Le Maire promises reduction in food prices

After the heads of large retail chains, it was the turn of the Minister of Economy to predict a fall in food prices in 2024. “I am sure that some prices will fall,” Bruno Le Maire said on France 3 this Sunday. clarifying that these cuts will be seen “as soon as commercial negotiations are completed” on January 31.

“Last year, when there were commercial negotiations, the price increased by 15%. Today there are about 5% more of us. It’s still too much,” he said. “My responsibility is to ensure that prices fall on as many goods as possible,” the minister repeated.

He said consumers should see price reductions “for butter, for vegetable oils, for some products like poultry and for certain types of meat,” insisting that this “will not just be a stabilization.” However, “we are not talking about returning to pre-crisis prices. This will not happen,” he said.

The same forecasts were made in recent weeks by the heads of E. Leclerc, Système U and Intermarché. “The good news is that double-digit inflation is over,” even Thierry Cotillard, president of the Les Mousquetaires group, said during an interview with Ouest-France on Saturday.

“Let’s forget the verification policy”

Food prices, which were the main driver of inflation in 2023 after peaking at nearly 16% in the spring, continued to slow in December, rising 7.1% year-on-year in December (down from 7.7% in November).

When asked about the possibility of organizing commercial negotiations between distributors and suppliers during the year, Bruno Le Maire opposed it. “I think this will create a lot of problems for our producers,” and added: “I am afraid this will greatly weaken our farmers. »

Asked about food vouchers, which some entities are demanding to help the most vulnerable French people, the minister said he did not consider this the “right way”, preferring assistance to associations and food banks. “Let’s forget about the check policy, we can’t afford it today,” he said.