INSEE announces a slight rebound in French household consumption in November

Europe 1 with AFP 10:46 a.m., January 06, 2023

A slight improvement.

Household consumption in France rebounded slightly in November, rising 0.5% after a sharp drop of 2.7% in October, driven by higher spending on manufactured goods, INSEE reported on Friday.

In detail, consumption of manufactured goods increased (+1.1%) compared to the previous month, especially in durable goods (+1.8%) such as transport equipment, computers or glasses, offset the new decline in food consumption (-0.2%), which fell for the sixth consecutive month, completed the National Institute of Statistics and Economic Studies.

12.1% inflation for food prices

Like energy prices, which soared with the war in Ukraine, food prices are currently experiencing double-digit inflation, jumping 12.1% year on year in December, according to published data. Wednesday by INSEE.

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In October, household consumption fell by 2.7%, a figure revised upwards by 0.1 percentage point (-2.8% previously announced), marked in particular by the sharp drop in energy consumption .

In November, energy spending rebounded moderately (+0.6%) "in a context of temperatures well above normal", according to the statistical institute, like those in clothing-textiles (+0.9%).

Over one year, compared to November 2021, household consumption fell by 5.2%.

Still over one year, expenditure on energy and refined products (fuels) fell by 11.4% and that on food products by 7%, while consumption of manufactured goods fell back more slowly, by 1%.