Arrr! Italian scurvy dogs be beggin' for help from merchants to win the fight 'gainst plunderin' prices!
2023-09-08
Arr, me hearties, word be spreadin' that Italy's government be makin' headway against those pesky prices, but the true sayin' lies with the scurvy dogs runnin' the companies. Arr, let's see who be makin' the right call, me mateys!
Italy's government has received some cooperation from producers' associations in its efforts to combat rising prices. However, the final decision on binding commitments lies with individual companies. The high inflation is a major concern for Prime Minister Giorgia Meloni's administration, which has reached agreements with supermarket chains and small retailers to cap prices of essential goods from October to December. In a statement, consumer goods industry associations, including Barilla, Granarolo, and Ferrero, expressed their willingness to assess individually whether to support Rome's campaign. Industry Minister Adolfo Urso expressed satisfaction with this development after a meeting with the associations. Earlier reports suggested that Rome was facing challenges in gaining industry associations' support for its plans. France has also implemented a similar initiative to curb inflation and has called out Unilever, Nestle, and PepsiCo for their lack of cooperation. Researchers from the International Monetary Fund (IMF) have pointed out that rising corporate profits have contributed significantly to Europe's inflation in recent years.Under the government-backed scheme, distributors will define a basket of essential food and non-food items that will have lowered prices. This will include basic necessities such as childcare and personal care products. Participating retail stores will be identified with government window stickers in the colors of the Italian flag, with "anti-inflation quarter" written on them. Distributors associations will inform the government by September 23rd about which members have agreed to join the initiative. While some progress has been made in securing cooperation from producers' associations, the government still needs to secure the commitment of individual companies to effectively combat inflation and provide relief to consumers.