Explainer: Why Is France Struggling To Lower Supermarket Prices?

France's Finance Minister Bruno Le Maire is urging the country's supermarkets and suppliers to accelerate price cuts as consumers struggle with rising food costs and inflation. Although a pledge was made by 75 top food companies to cut prices in July, only about 40 have followed through. France's unique system of setting retail prices, with negotiations taking place within a specific time window, and the impact of legislation on discounts and promotions, has made it challenging for the country to lower supermarket prices more aggressively.