2023-12-10 13:47:46
France has gone through a period of unprecedented inflation in recent years, described as ” the most serious since the 70s » by the head of Bercy during an intervention on France Inter. He even said that this period of intense inflation is now a thing of the past, stressing that “inflation is now under control, thus constituting a proven economic success”. However, these statements have sparked criticism among citizens who believe that their financial situation has barely changed since the price surge.
Food inflation still penalizes many French people!
Despite the expected slowdown in inflation, the French are still struggling to make ends meet. Indeed, as of December 1, the inflation rate in France stood at 3.8% (harmonized European data) and 3.4% according to INSEE standards, over a period of one year, per compared to the 4% recorded last October. Although this represents a clear improvement compared to the peak of 7.1% recorded the previous year, French households remain vigilant about their food spending.
Over the past year, the French have considerably reduced their food spending, a trend confirmed by INSEE: “ Households continued to reduce their purchases, change the range of products or diversify their food shopping: the consumption of food products within the meaning of national accounts thus fell in volume for the sixth consecutive quarter, weighing heavily on total consumption. », Indicate the statisticians in their latest report.
An “unprecedented” drop in food spending
Thomas Laurent, head of the quarterly accounts division, and Lionel Delta, head of the Household Consumption and Savings section at INSEE, noted a reduction in food expenditure of a magnitude “superior” to those observed during the last crises, also highlighting their more lasting nature.
Marianne Bléhaut, Director of the Credoc data and economy division, analyzes this drop in volume as: “ These numbers are both predictable and surprising. We could expect a drop in value, quite logical given the increase in prices: strategies of postponement, downsizing, substitutions… The drop in volume is more unexpected, and poses public health problems ».
This observation is shared by Ifop, whose survey carried out in June revealed that a large proportion of French people (58%) had reduced their food spending in 2023, double compared to fifteen years previously.
According to Le Figaro, all economists believe that this crisis is clearly different from that of 2008, where unemployment was a determining factor in the deterioration of the standard of living of the French. “ This time, the reduction in consumption is not the result of a drop in income, but of food inflation itself », says François Geerolf.
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