Carrefour: Inflation in Prices in France is Expected to Drop at the Beginning of the Year

Alexandre Bompard, Chairman and CEO of Carrefour, announced on Sunday that food price inflation in France is likely to drop sharply starting in January. Bompard mentioned that he expects food price inflation to fall significantly below ten percent, approaching five percent. Data from August released Thursday showed that food price inflation remains at 11.1 percent, despite a decline for the fifth month from a peak earlier this year. Bompard warned that rising prices are forcing consumers to considerably reduce their purchases of essential goods. He predicted that food price inflation in the coming years will remain higher than the levels recorded in previous decades, ranging between zero and one percent, due to climate and geopolitical factors. He added, "I believe the era of zero food price inflation is over."