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.
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