Companies like Carrefour are also making targeted efforts to support the government’s inflation reduction strategy.
French supermarket and retail giant Carrefour is making a bold move to help stem the impact of inflation in the country as it plans to freeze the prices of about 100 products. The push by Carrefour will see price freezes on everyday products like sardines, liquid wash, and rice.
Carrefour to Freeze Prices
The projected price freeze was announced today, and the freeze will be in effect for 100 days.
“While inflation continues to weigh on household budgets, Carrefour acts in favor of the purchasing power of its customers by undertaking to freeze the price of 100 products of its own brands for 100 days,” the company said, adding that “the operation covers various families of products: food (fresh products, groceries, greengrocers, preserves, aperitifs, condiments, cured products, drinks, etc.) and non-food (hygiene products, detergents, clothing, small household appliances, etc.).”
The initiative is the company’s attempt to help bolster the purchasing power of the masses at such a time when inflation has continued to skyrocket. The French inflation figure per data published earlier this month was placed at 6.8% in July. This figure comes off as the highest ever recorded since France started utilizing the European Union methodology to calculate the data in the early 1990s.
The French government has made a move on its part to curb inflation by placing a cap on the prices of electricity and gas. This move has helped taper down the inflation growth in France when compared to other European Countries.
Carrefour and Other Companies Bolstering Government Support
Companies like Carrefour are also making targeted efforts to support the government’s inflation reduction strategy.
The freezing of the prices of 100 products is not the first time Carrefour is making a significant contribution by directly helping its users combat the rising prices of items. Back in June, the company sold 30 items for less than €30, an initiative that it said is still currently running.
“This initiative is part of its anti-inflation challenge, launched at the beginning of June, which notably made it possible to offer a basket of 30 essential products for less than €30, throughout the month of July, as well as a “price tight” still ongoing. This covers 200 national brand products for which Carrefour continues to commit to reducing its margins so as to pass on price increases as little as possible, if at all,” Carrefour said.
Besides Carrefour, other major retailers in France and around the world have also been implementing price freezes or reductions to assist consumers to cope with the rising inflation. French supermarket group Leclerc also froze the prices of 120 items from May to July this year and British multinational supermarket giant Asda and Morrisons also slashed the prices of essential products.
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