By Leigh Thomas and Richa Naidu PARIS (Reuters) -France's finance minister said he had struck a deal with food retailers and suppliers to step up the fight ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Leigh Thomas and Richa Naidu
He said they had also agreed to bring forward annual price negotiations - initially planned for next year - to September. The negotiations will last until mid-October, with a view to having price cuts from January. August data released on Thursday showed food inflation - though easing for the fifth consecutive month from a peak earlier this year - is still running at 11.1%, nearly twice the overall inflation rate.Retailers and consumer goods companies are trading blame for who is responsible for the increase in prices even as the cost of raw materials has been falling in recent months.
He added that retailers which did not pass on price cuts by suppliers to their customers could face sanctions.
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