No Sign of Inflation Slowing in November, Says ‘World Basket’

A shopping basket up 14.3% over one year. Inflation continued to gallop in November, according to the report drawn up by the analysis firm IRI, which set up The world a typical trolley of everyday products and observes its evolution on a monthly basis. Worth slightly more than a hundred euros in November 2021, this basket, made up of a mix of products from national brands, private labels and “first prices”, now costs 118.36 euros.

Thus, sunflower oil, which had soared against a backdrop of shortages after the outbreak of war in Ukraine on February 24, remains at ceiling levels. You have to pay 3.35 euros to buy it in one liter format and at first price. That is a leap of 120% over one year. Similarly, the drop in the price of ground beef is more than limited. As a national brand, it still shows an increase of 26.5% over one year.

Alongside this very slight slowdown in the most inflationary categories, the rise continues in other departments. Take the example of basmati rice, the price of which has risen in one year by more than 30%, thus slightly exceeding the increase in that of pasta shells. Similarly, dairy products continue to weigh more heavily in the wallets of the French. Like the national brand butter wafer or Emmental cheese, which both reached the 20% inflation mark in November.

New Tier

Among the products whose prices somewhat escape this spiral, we can cite private label orange juice, with price increases limited to 1.8% over one year. In IRI’s broader study panel, which examines purchases of all consumer products by customers after they have been checked out in hypermarkets and supermarkets, the finding is similar.

Read also: Article reserved for our subscribers Food prices continue to soar

According to data published Thursday, November 24, inflation reached 11.96% and even exceeded 12% on the food aisle alone in November. A new level has therefore been reached. It should be remembered that IRI recorded a first upward price tremor in December 2021. Before reporting a crossing of the 5% bar in June, and that of 10% in October. Even more worrying for households, no one sees any sign of slowing down, or even stabilizing, of this increase in the price of the shopping cart.

After the invasion of Ukraine by Russia, the government had encouraged manufacturers and distributors to reopen discussions on trade negotiations, and these have not ceased since. Some upgrades have only just been granted. Philippe Gelin, managing director of the LDC poultry group – also known for its Marie brand – explains that he only obtained a 13% increase in his prices for his catering range on October 31.

You have 46.98% of this article left to read. The following is for subscribers only.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.