More

    France orders retailers to display shrinkflation

    Photo: iStock

    French retailers will have to notify shoppers when products have been reduced in size without a corresponding cut in prices in an effort to tackle so-called shrinkflation, the finance ministry said on Friday.

    Shrinkflation has become a headache for consumers and governments alike as households have struggled to cope with dwindling purchasing power in the face of surging inflation in recent years.

    From July, French retailers will have to display for two months when food and other common consumer goods products like detergent have been downsized in a way that causes the unit price to go up, the ministry said.

    “Shrinkflation is a rip-off, we’re putting an end to it. I want to rebuild consumers’ confidence and confidence goes hand in hand with transparency,” finance minister Bruno Le Maire said in a statement.

    Food prices became a major political issue in France last year after food inflation hit a record 16 per cent following annual price negotiations between suppliers and retailers.

    In reaction, the government passed a law to bring forward negotiations for this year and put pressure on companies to limit price hikes.

    Supermarket chain Carrefour voluntary slapped price warnings on some products last September to put pressure on big consumer goods producers like Nestle, PepsiCo and Unilever ahead of annual price negotiations.

    (Reuters)

    Latest

    Alan Jope receives CBE

    Alan Jope, former chief executive of Unilever, has been...

    Trewoon postmistress Sally Bourton receives British Empire Medal

    Long-serving Trewoon postmistress Sally Bourton has been named in...

    Portabello retailer Sellathurai Chandrakumar receives royal recognition

    Portobello Road postmaster Sellathurai Chandrakumar, better known as Chandra...

    From corner shop to community icon

    In the world of convenience stores, selling daily supplies,...

    Don't miss

    Alan Jope receives CBE

    Alan Jope, former chief executive of Unilever, has been...

    Trewoon postmistress Sally Bourton receives British Empire Medal

    Long-serving Trewoon postmistress Sally Bourton has been named in...

    Portabello retailer Sellathurai Chandrakumar receives royal recognition

    Portobello Road postmaster Sellathurai Chandrakumar, better known as Chandra...

    From corner shop to community icon

    In the world of convenience stores, selling daily supplies,...

    Swansea retailer wins British Empire Medal

    Matthew Tyrell, a retailer from Penllergaer, near Swansea, has...

    Alan Jope receives CBE

    Alan Jope, former chief executive of Unilever, has been made a Commanders of the Order of the British Empire (CBE) as the King’s Birthday...

    Trewoon postmistress Sally Bourton receives British Empire Medal

    Long-serving Trewoon postmistress Sally Bourton has been named in the Kings’ Birthday Honours in recognition for services to her community in Cornwall, near St...

    Portabello retailer Sellathurai Chandrakumar receives royal recognition

    Portobello Road postmaster Sellathurai Chandrakumar, better known as Chandra to customers, has been given royal recognition for services to his West London community near...