Inflation did not take a vacation in July/August. A jump of 24.5% for meat and poultry, 18% for pasta… Products sold in supermarkets are hit hard by inflation, which reached around 7% on the shelves in August on a year, and could climb to 10% by the end of the year.
This is in any case what announces the reference panelist on sales in large surfaces NielsenIQ. In a press release, the organization notes an increase in the average price of so-called consumer products – those that households regularly buy in supermarkets – by 6.6% in August.
“An inflation outlook of +10% by the end of 2022 is confirmed,” notes NielsenIQ, according to which all product categories sold in August at a higher price than a year earlier. The product categories with the most price increases are meat, poultry and deli meats, with a 24.5% increase, pasta (+ 18.3%), paper towels (+ 16%) , oil (+15.7%), butter, margarine and fresh cream (+13%).
Additional expenses for households
First-price products and those known as “private brand”, that is to say created by the brands that market them, have seen their prices increase by more than three points more than national brand products, notes again NielsenIQ. This is due in particular to the fact that the costs of production and agricultural raw materials, which have been strongly inflationary since mid-2021, represent a larger share of their price compared to the national brand, where marketing expenditure is greater.
In June, the Inflation Observatory of the magazine 60 million consumers, of which the NielsenIQ Institute is a partner, assessed the impact of these 7% price increases at 30 euros in additional expenses per household and per month. To cope, consumers are moving downmarket, depriving themselves of certain products deemed less of a priority, or turning to brands deemed more competitive in terms of price.
The Minister of the Economy, Bruno Le Maire, meanwhile declared on France 5 on Wednesday that “we should not wait for an improvement on the inflation front before the start of 2023”.