French consumers forced to cut back on essentials, Carrefour CEO warns ...Middle East

The CEO of French retailer Carrefour on Tuesday warned that high prices have forced consumers to make massive cuts to spending on essential goods, and urged the government to delay a law putting a cap on promotions retailers can offer. "We are seeing a non-spending tsunami in France," Chairman and Chief Executive Alexandre Bompard told Franceinfo radio. "When essential staples are no longer accessible, when people go without essential goods, one must act."

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