2023-11-27 01:00:40
The behavior of oil products worth stopping there. They increased sharply at the pump in October, +3.5, following increases in the prices of diesel, +6 cents after +13 cents in September, gasoline, +5 cents, and gas bottles, + 1.5 euros. What’s trending over one year at a spectacular +40.6% while the increase at the national level is also only 1.8% over the last 12 months.
While in the Overseas Territories, prices have been controlled by the prefect precisely to avoid reaching these extremes since 2013. decree taken following the strikes on the cost of living in Overseas Territories, and responding to the “restrictions of competition observed in the lead sector” in Mayotte, “the decree thus provides for the conditions under which the prefect fixes by decree the maximum prices of products oil tankers”, to quote the text.
Noting a pronounced differential of an additional 7% increase in Mayotte compared to the national level in September, we contacted the director of TotalÉnergies Mayotte on this subject. According to Karine Poisson, the increase in global transport costs is to blame, “this increase is explained by the explosion in freight rates, brought back on a small volume imported into Mayotte which pushes up prices”, she added.
Freight costs involved
Following our requests, INSEE also explains the gap by the difference between the 2022 prices where the State, Total and departmental council discounts applied, and those of 2023 without discounts. For example, on October 1, 2022, the price of unleaded premium fuel with discounts was set at 1.26 euros/liter. As of October 1, 2023, the maximum price of unleaded premium fuel was 1.95 euros.
Finally, we must integrate the delayed effect of price developments in Overseas Territories, a statistician points out to us. “In Overseas, we always have a time lag effect with the national level which is governed by market prices while the Prefecture integrates the evolution of the market to change the price for the following month.” For example, the data published by INSEE at the end of October take into account the sharp rise in oil prices this month, while they were decreasing in France. Which then led to the sharp drop recorded on November 1 in Mayotte, and which should reverse the trend during the next consumer price bulletin.
However, faced with an increase of 40.6%, the question arises of once again reviewing the method of calculating prices defined in the decree. Let us remember that faced with the global surge in oil prices, the government called on distributors in mainland France to sell fuel at cost price!
Fresh produce prices have cooled this year
For the rest of the prices, those of manufactures which were declining almost throughout the year, took +0.3% in October. Over a year, they are stable in Mayotte, while they increase at the national level, +2.2%. Manufactured products account for 27% of household consumption. The prices of health products increase in Mayotte, +0.6% and decrease nationally, -0.9%. The drop in prices of clothing and shoes in Mayotte moderates the rise in prices of other manufactured products.
Plane ticket prices drop in October
The prices of food fell by 0.4% in October, after an increase of 0.6% in September, and the good news comes from the prices of fresh products which fell by 2%. Food accounts for 23% of household consumption. Over a yearfood prices increase by 5.7%, less than at the national level, +7.8%, because for once, the prices of fresh products only increase by 5% over one year, more than ‘at the national level, +1.1%, but they had accustomed us to a double-digit increase.
The prices of services decreased again in October, -0.4%, after -1% in September. “This drop is exclusively driven by the significant drop in prices of transport services, -4.4%”, particularly the price of plane tickets in low season. Prices of health services, communications, rents and related services are stable. Services represent 40% of household consumption, twice as much as food. Over a year, prices of services increase by 1.5% in Mayotte compared to +3.2% nationally). This is partly linked to that of other services (+3.5%), rents and related services (+2.8%) and communications services (+1.4%), on the other hand, prices are falling for transport services (-8.7%) and health services (-0.7%).
In October, prices of tobacco increase by 0.2% and take +6.4% over one year in Mayotte, compared to +9.9% in France.
A.P-L.
1701050329
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