Germany boss promises falling food prices

Bad Wimpfen The German boss of the discounter Lidl, Christian Härtnagel, gives customers hope that food prices will soon fall again. “Where we see relaxation on the raw materials market, we pass this on to the customers and lower the prices,” he says in an interview with the Handelsblatt. And he warns: “Food must not become a luxury product.”

In April, food prices rose again by more than 17 percent compared to the same month last year. But this development could soon slow down. “In total, we were already able to reduce the price of more than 700 items in 2023,” says Härtnagel. The prices for staple foods such as butter, cheese and pasta have already fallen again.

In principle, Lidl is benefiting from the crisis. “We were able to increase our sales last year and currently have a market share of 10.9 percent in Germany,” reports Härtnagel. But further expansion is difficult in Germany, so the discounter has to overcome a few hurdles.