The price hike is expected to continue. The Minister of Economy Bruno Le Maire stressed Thursday that the country was “facing considerable economic difficulties”, considering that “the hardest part is ahead of us” in a context of soaring commodity prices and “an inflation news “.
“We are facing considerable economic difficulties. The hardest part is ahead of us, ”said Bruno Le Maire in Évreux. “There is the war in Ukraine, the surge in the price of raw materials, a new inflation which is the first subject of economic concern”, explained the minister.
Soaring food prices
The shock of the war in Ukraine has led to a sustained spike in commodity prices. According to the specialized research institute IRI, FMCG jumped 2.9% in April 2022, compared to the same period last year. The increase amounts to 1.1% compared to March.
As we had already announced, various products have already seen their cost soar. The price of pasta has soared by 15.3%, that of flour by 10.9%, frozen meats are sold 11.3% more expensive, oils 10%, coffee 8.2% or even sugar 6 %. The Leclerc brand had announced a “shield which guarantees that the prices of 120 items do not move from May 4 until July”, in a recent interview.
A boost that may not be enough in the medium term. “The trend will increase. By the start of the summer, it is expected that the price increase of consumer products will reach or exceed 5%,” confirmed Emily Mayer, director of business insight at IRI.