PARIS, Aug 31 — France’s finance minister said he had struck a deal with food retailers and suppliers to step up the fight against inflation, but singled out Unilever, Nestle...
PARIS, Aug 31 — France’s finance minister said he had struck a deal with food retailers and suppliers to step up the fight against inflation, but singled out Unilever, Nestle and PepsiCo as being among companies which he said were not “cooperating” with the agreement.
Le Maire had already announced in June a deal with the 75 top retailers and industrial groups supplying them to cut prices on hundreds of products, but this week acknowledged that less than half of them had played ball. Yesterday, retail industry lobby group the Federation du Commerce et de la Distribution said that only 25 out of 75 big consumer goods groups had so far agreed to reduce prices, and just on a limited number of products.
An executive from a top beverage company with knowledge of the negotiations said it was unclear whether any of the companies involved would actually cut prices.
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