As inflation continues to impact consumers' wallets, the government is considering creating a basket of everyday products at low prices.

It would contain twenty basic necessities sold in all large food stores, the price of which would be blocked.

According to BFMTV on Wednesday, this proposal has been confirmed by the Minister of the Economy and should see the light of day next March… but not all the players in the large distribution sector are in favor of it.

Michel-Edouard Leclerc, CEO of Leclerc stores, was invited by the television channel to discuss this anti-inflation basket.

He said he agreed on the substance, but ran into a lot of economic and legislative issues.


💬 "Inflation will continue and perhaps even more in February and March"



➡ Michel Édouard-Leclerc (@Leclerc_MEL), president of the strategic committee of the centers https://t.co/QrRUVcZk7r pic.twitter.com /P3kbCz2xNZ

— BFMTV (@BFMTV) January 25, 2023

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“announcement effect”

“When the public authorities ask us to make a cheaper basket, at the same time, other ministries force us to take margins on these items,” he explained.

“I say” yes “in principle, but it is the scale that must be seen, when you go to Leclerc, you may not be asking for 20 articles.

It's a bit of an announcement effect, ”also underlined the big boss.

In an interview with Parisian on January 15, the CEO of Leclerc denounced the contradictions of the bill.

“The prices of our suppliers will increase by 15% on average in March,” he recalled.

“With this law, we lose the advantage of big promotions and we are kept with the 10% margin.

No distributor can undertake to add to this a basket of products sold at low prices”.



Towards a peak in inflation

For him, it is certain: inflation is far from having reached a ceiling, and should even continue to increase in 2023 to reach a peak in the spring.

“They crashed last year on their forecasts for 2022,” he slipped to the Journal du Dimanche last Saturday, thus casting doubt on the statements of the Banque de France.

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