France's finance minister threatens to impose sanctions on companies who don't reduce prices. 75 companies that produce and sell 80 percent of French food will be affected by price cuts.
French inflation cooled more than expected in May, falling to 6.0 percent, its lowest level in a year. Still, food prices rose 14 percent in March, after a record increase of nearly 16 percent in February. Hungarian Prime Minister Viktor Orbán has imposed binding price cuts on some staple foods at major retailers. The inflation rate in Hungary was recently more than 20 percent.