Consumer prices rose 2.8% in 2021 in France. The increase is a party to last and penalize households.
by
After a year marked by strong concerns about inflation, it is an almost reassuring figure that was published Tuesday, 4 January by INSEE: consumer prices increased by 2.8% in 2021 In France, which does not translate acceleration in December compared to the previous month. Harmonized inflation – which allows European comparisons – is 3.4% over the whole year, a figure that remains significantly lower than that of the euro area average which was 4.9% In November.
But the analysis of price increases per product testifies that price increases are no longer cantonized to energy, as at the beginning of September. They are widespread. In December, food prices increased by 1.4%, compared to 0.5% in November, for example, and only 1% in December 2020. Manufactured goods increased by 1.2% against 0.8 % in November.
“What worries is the dynamics of inflation, with the impact of production costs on manufactured products,” says Stéphane Colliac, economist at BNP Paribas. It is one of the – rare – convictions of forecasters at the beginning of the year: Contrary to what we imagined in the fall of 2021, inflation is not a cyclical phenomenon linked only to the strong recovery Globally, but seems part to last at least in the first half of 2022. “The vision of an inflation peak that falls quickly is less clear, admits Mathieu Plane, economist at OFCE. Now we rather expects a robust inflation. “
ultra-competitive
Moreover, during the truce of confectioners, while France plunged his head the first in the Omicron wave, the Swedish giant of the Ikea furniture was throwing a small pavé in the pond. “Unfortunately, for the first time since higher costs have begun to affect the global economy, we will have to pass on certain cost increases on our customers,” said Ingka Group, the holding owner that brings together most stores. ‘teaches. Consequence, sofas with unprosawable names or kit shelves should see their prices increase in the order of 9% on average.
It’s hard to imagine that the Swedish giant, rather famous for its minimalist labels, make rider alone in an ultra-competitive market. A wave of readjustments, which will weigh on the wallet of households, is not excluded. “So far, businesses have absorbed the costs associated with commodity prices or transport in their accounts, but they arrive at the end of the year,” says Denis Ferrand, General Manager of Rexecode. “The impact of price increases to the consumer is more than us than behind us, especially with regard to manufactured goods and agri-food products.”
You have 57.09% of this article to read. The rest is reserved for subscribers.