French Food Price Inflation To Ease Off By September, Says Olivia Gregoire

By Reuters
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French Food Price Inflation To Ease Off By September, Says Olivia Gregoire

Food price inflation in France - which has been a major concern for consumers - should ease off by September, government minister Olivia Gregoire has said.

"By the time people come back from their holidays in September, we will have a visible decrease in the prices you see on the shelves and in terms of food price inflation," Gregoire, who is a government minister responsible for small-and-medium sized enterprises (SMEs), told France Inter radio.

Second Half Of The Year

Gregoire's comments echoed those from Bank of France governor and European Central Bank member Francois Villeroy de Galhau, who said earlier this month that he expected food price inflation to start easing in the second half of this year.

Data published on April 28 showed the French economy grew 0.2% in the first quarter, despite strikes against the government's pension reform bill, but inflation remained stubbornly high.

France's headline inflation level rose to 5.9% in April from 5.7% in March. The French inflation level stood at 6.9%, as measured by a European Union-harmonised consumer price index.


Discounters Lead The Way

A recent study by Kantar found that the discount channel experienced a 0.4 percentage point increase in market share in France during the first quarter of 2023, now holding 11% of the market. This growth was primarily driven by Aldi, which gained 0.2 percentage points to reach a 3.0% market share, and Lidl, which saw a 0.1 percentage point gain and now sits at 8% market share.

Meanwhile, the supermarket channel, which makes up 29.6% of the market, also experienced a 0.2 percentage point gain in market share during the quarter.

News by Reuters, edited by ESM – your source for the latest retail news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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