prices rose 6.2% year on year in November, the rise in food is accelerating

Inflation which is stabilizing, but which continues to rise sharply on food products. Consumer prices rose by 6.2% in France between November 2021 and November 2022, according to the first estimate published this Wednesday by INSEE.

Food prices continue to rise sharply

The inflation rate had already reached the same level over one year
in October. In November, the rise in food prices has accelerated compared to the previous month (+12.2% over one year against 12% in October) while energy prices slowed their progression (18.5% against 19.1%).

Household consumption down

Another indicator, household consumption “falls back sharply in October”, and records a fall of 2.8% over one month, be his strongest decline since April 2021, which had been marked a sanitary confinement, added Insee.

This decrease is explained “by the sharp reduction in energy consumption” which fell by 7.9% due to “particularly mild weather conditions”, but also comes from a decline of 1.7% in purchases of manufactured goods and food consumption, which fell by 1.4%, explains the National Institute of Statistics.

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