Carrefour supermarket will freeze prices on basic products until 30 November in a measure aimed to help purchasing power, the French group announced on Monday. In Belgium too, a price freeze for certain products should soon be put in place.
The move comes after a call from the French government to tackle inflation and offer relief from the cost of living crisis. With schools due to reopen soon, the supermarket chain has also promised to ensure that the price of school provisions don't increase.
Carrefour in Belgium confirmed that the chain will manage prices in the coming weeks, confirmed a spokesperson, although the details aren't clear yet.
Inflation in Europe
Governments across Europe are working to lessen the impact of soaring inflation. The French government has capped energy prices to an annual 4%. Instead of passing on the high wholesale energy prices onto consumers, the French energy company EDF has been forced to take a hit to protect household incomes. In July, France's rate of inflation hit 6.8% from 6.5% in June, according to Eurostat, the EU's statistical office.
In Belgium, wage indexation has risen on average by 7%. However, inflation in Belgium is continuing upwards, reported Statbel, with an inflation rate at 10.4% in July based on the European harmonised index of consumer prices (HICP) was running at 10.4% compared to 10.5% in June and 9.9% in May.
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For the eurozone, the inflation rate on average was at 8.9% on average in July, with energy at its highest annual rate (39.7%, compared with 42.0% in June), according to Eurostat.
