2023-04-19 12:01:00
Shopping has been much more expensive for consumers for several months now. But inflation has slowed on some commodities. Lower costs, which should soon be reflected in certain products.
Have manufacturers been much quicker to pass on price increases to their raw materials than their price cuts? Bruno Le Maire in any case issued a warning to them this Tuesday, April 18 at the microphone of Appoline de Malherbe on BFM. He wishes that “the downward pass-through is as fast as the upward pass-through” and warns that if the negotiations have not resumed at the end of May, he was going to summon them to the Ministry of the Economy.
According to Olivier Dauvers, retail expert quoted by BFMsome products did not pass on any decline during winter negotiations, despite a greater gap between the displayed price and the cost of production.
Shift in the price of oils
He cites, for example, oils, sold on average 22% more expensive in March 2023 than in March 2022, while over the same period, the price of sunflower has dropped by 55% to find itself at a level similar to that before the start of the war in Ukraine.
Thus, several brands, such as Fruit d’Or or Lesieur should soon have to post price reductions, since the context justifies less and less the prices applied on the shelves. Oils are also part of the top 5 that the French have the most neglected, according to a ranking of Parisian, due to inflation.
“I don’t want them to make their margin on the backs of consumers, while prices are falling,” insisted Bruno Le Maire.
Falling cereals
For the month of March, the FAO index (the Food and Agriculture Organization of the United Nations), which measures the variation in international prices on a food basket, reports a drop of 20.5 % in one year. And this fall is particularly clear on cereals, reports TF1.
The FAO speaks well of international prices, while it is difficult to ignore the current difficulties of French farmers. Except that, as BFM reminds us, many manufacturers, even French brands, are supplied with foreign wheat. This is for example the case of BN or Lu, which on the other hand does not indicate the origin of its wheat, which show prices overall 25% more expensive than at the same time a year ago.
The price of coffee also fell
Finally, the price of coffee is also down, by 16% according to BFM, while brands such as Gold or Carte Noire show prices in March 2023 respectively 25 and 29% higher than March 2022.
Obviously, some raw materials are still bearing the brunt of inflation, which continues to rise since in France, it causes an average increase of 13% in one year on all prices. For products that show a sharp drop in prices, if manufacturers and supermarkets quickly recover around the table, following the requirement of Bruno Le Maire, the downward repercussions can take place quite quickly.
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