New French Law Pushing Food Prices Higher

In France, a new law increasing minimum food prices came into effect at the beginning of February. The Macron government had postponed introducing the measure in December when the Yellow Vest movement had taken off.

The new “food law” includes a 10 percent increase in the bottom price for food products and curbs promotional offers so retailers cannot discount products by more than 34 percent of their value.

Critics of the new law say it unfairly burdens the poorest people in society. The new law is said to be part of Macron’s platform to win support from farmers, however many are skeptical that it will have the desired impact.

According to the site Retail Detail, the law has already made the price of many popular foods rise on average by more than six percent. Estimates suggest the law will cost French people more than $1.5 billion.

 

 

Photo: “Amelie’s grocery store in Montmartre” by Serge is licensed under CC BY 2.0

Advertisements