Food Inflation Slows In France For 'Seventh Month In A Row'

By Steve Wynne-Jones
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Food Inflation Slows In France For 'Seventh Month In A Row'

Food price inflation slowed in France for the seventh month in a row in October, new data from Insee has found, rising by 7.8% on a year-on-year basis.

This compares to a 9.7% year-on-year increase in September, the data showed.

The food inflation slowdown was particularly notable in a number of categories, including bread and cereals (+9.4%, compared to +10.9% in September), meat (+6.8%, compared to +8.3% in September), milk, cheese and eggs (+11.2%, compared to +13.5% in September), oils and fats (+5.8%, compared to +7.8%), sugar, jam, honey, chocolate and confectionery (+12.6%, compared to +14.0%), alcoholic beverages (+6.5%, compared to +7.3%), and non-alcoholic beverages (+9.9%, compared to +11.1%).

Fresh products saw prices rise by 1.1% in October 2023, compared to the same month last year (+4.5% in September), largely down to a turnaround in vegetable prices, which were down 5.8% compared to the corresponding month in 2022.

The price of fresh fruit (+4.7%) grew at a faster rate than the previous month (+4.2%), however, as did the price of fresh fish (+1.5%, compared to +0.1% in September).


Consumer Price Index

Overall, in October 2023, consumer prices increased by 4.0% compared to the same period last year, which is a slowdown from the 4.9% increase observed in September.

This decrease in inflation was primarily influenced by a slowdown in energy prices inflation which rose by 5.2% (down from +11.9%).

On the other hand, the prices of services experienced an acceleration, rising by 3.2% in October after a 2.9% increase in September. For tobacco, inflation remained stable, maintaining the same rate as the previous month at +9.9%.

Year on year core inflation decreased, reaching +4.2% in October, after +4.6% in September.

Read More: Food Price Inflation To Ease Next Year, Rabobank Says

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