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Supermarkets anticipate an increase in food prices

2021-11-09T12:43:59.840Z


While inflation has been moderate since the start of the year, the rise could accelerate in the coming months.


After gasoline, gas, heating ... should the French fear an increase in food prices in supermarkets? This was clearly announced by Michel-Édouard Leclerc in the morning of Cnews, Monday, November 8: "

I anticipate that there will be a hell of a price increase this month

", thus warned the CEO of the eponymous group. The next day, Alexandre Bompard, at the head of Carrefour, responded to the words of his competitor at the microphone of France Info: "

Michel-Édouard Leclerc (....) still sees inflation at record levels

", said he amused. On the contrary, according to him food inflation has been moderate: "

since January 1, the increase is less than 1%

", he reassured.

Read also Jean-Pierre Robin: "Price inflation, a good deal for the State and public finances?"

In the monthly note on the consumer price index, INSEE notes that "

over one year, food prices increase by 1.0%

".

However, the gap between the two competitors is not as pronounced as it seems.

Indeed, the CEO of the Carrefour group wanted to moderate his own words: "

inside that, there are strong increases

".

He points in particular to pasta and flour, the prices of which have won, according to him,

"between 5 to 12%

".

Concern for 2022

Also, the current period could be the calm before the storm. Michel-Édouard Leclerc anticipates “

much higher inflation than what is announced by INSEE

”. This certainty comes from the situation in neighboring countries: "

we are at 2.6%

(inflation)

in France, but look: we are at 5.5 in Spain, (...) at 5.4 in Germany

”... For example, he sees the arrival of an“

enormous

rise in prices

for coffee and cocoa

”.

In the short term, INSEE is showing itself to be more measured.

In its October 2021 economic report, INSEE noted that: "

food inflation would remain broadly stable by December

".

With disparities, as always.

The costs, which increased sharply in 2020, would decelerate.

On the contrary, the excluding costs, carried by the recent rise in the prices of agricultural raw materials, should increase.

Read alsoRecipes to protect your savings from inflation

And after ?

Alexandre Bompard warns: "

there are concerns for the future

".

He cites haphazardly: "

the tension on production

", the supply chains which are "

disorganized

" and "

the price increase demanded by manufacturers

".

If the large distribution promises that it will fight step by step to safeguard the purchasing power of the French, especially vis-à-vis large industrialists, it is too early to know whether food, in turn, will come to burden the market. consumer budget.

Source: lefigaro

All news articles on 2021-11-09

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