Consumers have seen it in recent weeks by browsing the aisles of supermarkets: prices continue to soar. Inflation reached 6.3% over one year in France in February, reveals INSEE on Wednesday. This final estimate is up slightly from the first assessment revealed last month. The National Institute of Statistics had previously estimated the rise in consumer prices at 6.2% over one year, which already marked an acceleration compared to January (6%).
« This rise in inflation is due to the acceleration in food prices “, Which jumped 14.8% over one year (after 13.3% in January), he detailed in a press release.
All product categories are concerned. Fresh products increased by 15%, especially fruits and vegetables. Non-fresh products (bread, cereals, drinks, etc.) increased by 14.8%.
Energy prices are slowing
The prices of services (3% after 2.6%) – catering, accommodation, transport, rents, etc. – and manufactured products (4.7% after 4.5%) such as furniture and toys also continued to rise.
Conversely, energy prices, which have been the driving force behind soaring prices until now, have slowed down (14.1% after 16.3% in January). This trend reversal is attributed to the slowdown in oil and gas products. Those of electricity, on the other hand, were driven by the capped increase in regulated tariffs.
Core inflation, which excludes the most volatile elements, such as energy and certain food products, and thus makes it possible to identify an underlying trend in price trends, rose to 6.1% on one year in February, after 5.6% in January.
Levels not seen since the 1980s
Since the take-off in consumer prices, under the effect of the disruptions in post-Covid supply chains and then the war in Ukraine, the inflation rate has returned to levels not seen since the 1980s. It should gradually fall back to 5% in June, INSEE predicted in early February.
The harmonized consumer price index (HICP), used for Europe-wide comparisons, stood at 7.3% year on year in February, down from 7% in January.
This INSEE publication comes as the government announced at the beginning of the month the establishment of an “anti-inflation quarter”. The result of an agreement with distributors, it must allow consumers to have access to a selection of products, determined by each brand at their discretion, the prices of which are ” the lowest possible », and this, until June. The products are ” choose freely by each of the distributors, indicated Bruno Le Maire on March 6. Also, they may vary from region to region.
The food check still on the table
This device is financed thanks to the margins of the distributors. It will cost them several hundred million euros “. The executive had thus abandoned the idea of a basket ” anti-inflation “, yet scope for several weeks, and aiming to establish a list of fifty products at low prices. However, he announced his intention to deploy in the coming months ” a food check ».
« There will be for the most modest, those with the lowest incomes, a food check “, assured the Minister of the Economy, Bruno Le Maire. The experiment ” will be done on a territorial basis, probably the department, so as to be closer to consumers and closer to agricultural producers “, he added.
(With AFP)