“It is in the process of settling into the daily lives of French men and women. Inflation rose again in January, to 2.9% over one year, after remaining stable at 2.8% in December, INSEE reported on Tuesday, February 1 in a first provisional estimate. This acceleration is mainly explained by a rise in the prices of energy (+19.7%, after +18.5% in December) and services (+2%, after +1.8% the previous month), detailed the National Institute of Statistics.
Food prices also increased by 1.5% (after +1.4% in December), driven by fresh products (+3.6% after +3.3% in December). On the other hand, the rise in the prices of manufactured products slowed to +0.6% after +1.2% in December. Over one month, inflation increased by 0.3%, after 0.2% in December”.
Yes, inflation is rising, damn it, and when it comes to energy prices, the government has used pirouettes to get around European rules and bans, pirouettes that cost EDF billions but that’s not the ‘essential.
The important thing is that energy does not increase in France by the natural amount. Clearly, inflation is artificially restrained and hidden.
The problem is until when?
There should be a catch-up in 2023 after the elections and the amount of the increase is currently around 40%! Enough to accelerate inflation even more on the energy item alone!
Charles SANNAT
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Source France info here