Barthélémy Philippe / Photo credits: ANTOINE BOUREAU / HANS LUCAS / HANS LUCAS VIA AFP 09:37 a.m., January 15, 2024

Eagerly awaited since the peak in February 2022, the drop in inflation has not yet had much effect on prices displayed in stores. And to meet the year's expenses, one in three French people is preparing to reduce their food consumption, which has become a headache for small budgets.

Inflation is finally falling and is expected to continue to fall according to the latest INSEE forecasts. In February 2022, France experienced the peak of price increases, up 6.3% year-on-year. Today, inflation stands at 4.9% compared to 5.2% in the same period last year. But on the shelves, consumers don't feel this price drop on their receipts. As a result, the French are tightening their belts.

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Buy cheaper

Many of them plan to cut back on several spending items in 2024. For example, one in three French people is preparing to reduce their food consumption, as is the case for Alexia. This Parisian with a very small budget suffers from the headache of grocery shopping on a daily basis and it will continue this year. "I cut, I take the cheapest. And again when I arrive, the cheapest one is gone. As a result, I have to go to three different stores," she describes.

Bertille, a childminder, preserves the quality of her food as best she can, with little tricks: "I order the anti-waste baskets. It's cheaper. And in general, it's organic," she says. In addition to her studies, Lola works a series of odd jobs. And yet, she will have to cut back on her clothing expenses, like nearly two out of three French people: "I'm really going for second-hand, much more than before. Because it's too expensive!" protests the student.

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And the trade-offs don't just concern food and textiles. Half of French people plan to reduce their consumption of energy, electricity, gas or petrol, while nearly six out of ten plan to cut back on spending on outings and leisure activities.