Share this @internewscast.com

PARIS — Global supermarket chain Carrefour will stop selling PepsiCo products in it stores in France, Belgium, Spain and Italy over price increases for popular items like Lay’s potato chips, Quaker Oats, Lipton tea and its namesake soda.

The French grocery chain said it pulled PepsiCo products from shelves in France on Thursday and added small signs in stores that say, “We no longer sell this brand due to unacceptable price increases.”

It comes as a new French law meant to fight the rising cost of living has supermarkets facing millions in fines if they don’t reach a deal with suppliers on prices by the end of the month.

The ban also will extend to Belgium, Spain and Italy, but Carrefour, which has 12,225 stores in more than 30 countries, didn’t say when it would take effect in those three countries.

PepsiCo products were still on shelves Friday in Rome and Barcelona. Carrefour Italia’s press office said information will be posted for customers in their stores in Italy in the next days.

PepsiCo said in a statement that it has “been in discussion with Carrefour for many months and we will continue to engage in good faith in order to try to ensure that our products are available.”

The company behind Cheetos, Mountain Dew and Rice-A-Roni has raised prices by double-digit percentages for seven straight quarters, most recently hiking by 11% in the July-to-September period.

Its profits are up, though higher prices have dragged down sales as people trade down to cheaper stores. PepsiCo also has said it’s been shrinking package sizes to meet consumer demand for convenience and portion control.

“I do think that we see the consumer right now being more selective,” PepsiCo Chief Financial Officer Hugh Johnston told investors in October.

The Purchase, New York-based company said price increases should ease and largely align with inflation, which has fallen considerably worldwide since crunched supply chains during the COVID-19 pandemic and then Russia’s war in Ukraine sent prices surging.

However, the 20 European Union countries that use the euro currency saw consumer prices rise to 2.9% in December from a year earlier, rebounding after seven straight monthly declines, according to numbers released Friday.

Prices for food and non-alcoholic drinks have eased from a painful 17.5% in the 20-country euro area in March but were still up by 6.9% in November from a year earlier.

The government of French President Emmanuel Macron has fought back on the rising cost of living for households, passing a November law to implement “emergency measures” to fight high prices.

The law moved up annual negotiations between supermarkets and their suppliers on setting prices and more to Jan. 31 from March 1. Fines have been increased to 5 million euros ($5.46 million) for grocery companies that fail to meet the new deadline for setting prices.

For its part, PepsiCo has pointed to higher costs for grain and cooking oil for its rising prices. Costs for those food commodities surged following Russia’s invasion in Ukraine but fell considerably on global markets last year from record highs in 2022.

The U.N. Food and Agriculture Organization said Friday that its food price index was 13.7% lower in 2023 than the year before, but its measures of sugar and rice prices grew in that time. That overall relief still is not being felt by families at supermarkets.

Share this @internewscast.com
You May Also Like
Driver arrested after attempting to drive through fence at US military base: authorities

Authorities Detain Driver for Trying to Break Through Fence at US Military Base

Officials in Virginia said an unauthorized individual attempted to enter Joint Base…

Desperate Plea: Travis Decker ‘Sighting’ Ignored by Police for Weeks, Leaving Me Feeling Unsettled

A NURSE reported that she spent several weeks urging the police to…
Justin Bieber confirms Hailey marriage struggles in album 'Swag'

Justin Bieber Opens Up About Marriage Challenges with Hailey in New Album ‘Swag’

Justin Bieber is hitting rumors head-on. The singer addressed his and Hailey…
Friends who discovered Idaho murder victims reveal eerie omen before the massacre

Mother of Idaho murder victim finds surprising solace in controversial plea deal by the killer

The mother of University of Idaho victim Xana Kernodle has broken her…
The NEA's antisemitic ADL split: Letters

The NEA and ADL Division: Examining the Antisemitic Allegations

The Issue: The National Education Association cuts ties with the Anti-Defamation League.…
Shanna Gardner's onto jailhouse snitches, even murderers and human traffickers

Shanna Gardner Targets Informants in Jail, Including Killers and Human Traffickers

On May 23, Gardner’s legal team submitted a motion requesting a court…
Trump wants mass deportations, but US views of immigration are more positive since he took office

Trump Advocates for Mass Deportations, Yet American Opinions on Immigration Have Grown More Favorable Since His Presidency

WASHINGTON (AP) — Mere months after President Donald Trump’s return to office…
Sheriff Cook discusses safety and crime at town hall

Sheriff Cook Talks Crime and Safety Issues at Community Town Hall

During Thursday’s town hall, Sheriff Michelle Cook announced that crime in Clay…
Supreme Justice Ketanji Brown Jackson triggered by 'state of our democracy'

Justice Ketanji Brown Jackson Expresses Concern About the ‘State of Our Democracy’

Supreme Court Justice Ketanji Brown Jackson, known for sparking debate, is facing…
'General Hospital,' 'The View,' 'Live with Kelly and Mark,' and Anthony Mackie are among the Daytime Emmy Awards nominees.

Daytime Emmy Nominations Include ‘General Hospital,’ ‘The View,’ ‘Live with Kelly and Mark,’ and Anthony Mackie

LOS ANGELES — The National Academy of Television Arts & Sciences has…
Therapist sitting in front of hyperbaric chambers.

Therapist, 43, Tragically Perishes in Fiery Blaze Inside Oxygen Chamber After Sudden Fire at His Clinic

A PHYSICAL therapist has been burned alive inside a hyperbaric oxygen chamber…
Helicopter dropping cash from the sky.

Witness the chaos as deceased man’s fortune is released by helicopter, igniting a frantic dash as onlookers snatch bundles of money.

THIS is the moment a dead man’s life savings are dropped from…