Carrefour, one of the world's biggest supermarket chains, will stop selling Pepsi, Doritos, and other PepsiCo products in France, Italy, Spain, and Belgium to protest what it calls unacceptable price increases from PepsiCo. The move represents a rare public standoff between a major retailer and food producer after over two years of rising consumer prices. In France, food-price inflation hit double digits in 2022, peaking at nearly 16% in March 2023, while December saw a 7.1% year-over-year increase in food prices, leading to government criticism of manufacturers and calls for price reductions.
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00:00 It's Benzinga and here's what's on the block.
00:02 Carrefour, one of the world's biggest supermarket chains, will stop selling Pepsi, Doritos, and other
00:07 PepsiCo products in France, Italy, Spain, and Belgium to protest what it calls "unacceptable
00:12 price increases" from PepsiCo. The move represents a rare public standoff between a major retailer
00:17 and food producer after over two years of rising consumer prices. In France, food price inflation
00:22 hit double digits in 2022, peaking at nearly 16% in March of 2023, while December saw a 7.1% year-over-year
00:30 increase in food prices, leading to government criticism of manufacturers and calls for price
00:35 reductions. Carrefour responded by labeling products affected by shrinkflation. With the
00:39 recent move, the company has ceased sales of various products, including Lay's, Doritos,
00:44 Cheetos, Betanuts, Alfale, and Gazpacho. For all things money, visit Benzinga.com.