Gasoline, electricity, groceries and now… coffee pots. Inflation, which reached 5.8% annually in June according to the provisional estimate by INSEE, is spreading throughout the economy.
The INSEE consumer price index for June showed an annual increase of 28.5% in the price of electricity, gas and other fuels, and 6.3% in food and non-alcoholic beverages, two sectors that drive the inflation. Pastas, frozen meats, flours and oils are the most affected.
Small household appliances especially affected
But consumers now have to deal with rising prices for household items and home care. Small electrical appliances saw their prices rise by 7% between June 2021 and June 2022, according to the consumer price index published by INSEE. Especially electric coffee machines and kettles, whose price has risen 17.2% in one year, but also that of toasters, 13.7%.
Irons increased by 5.9% and other small appliances such as coffee grinders or juice extractors saw their prices rise by 6.1%. Refrigerators and freezers increased by 8%.
“The rise in the price of small electrical appliances is part of the general context of disorganization of maritime transport on a global scale and the increase in production costs that are transferred to prices. These products are also affected by the shortage of electronic components”, analyzes Sébastien Faivre, head of the INSEE consumer prices division. The increase in the minimum wage also “could affect the prices of these products.”
Very affected interior furniture
On the home maintenance side, there is also an increase in the price of garden furniture of 11.6% and interior furniture of 7.5%. This can be explained in part by the increase in the price of raw materials and the increase in shipping costs, along with the difficulty of transporting containers, explains Sébastien Faivre. At the end of 2021, the furniture giant Ikea announced a price increase for this reason.
Lastly, small non-motorized tools (saws, hammers, screwdrivers, etc.) increased by 10.5% and certain so-called “non-durable” household items, such as mops, sponges, filters, tablecloths and napkins or paper towels, saw their prices increase by 8%.
Certain goods, defined by INSEE as leisure or cultural, have also experienced a significant increase in prices. The price of scanners and printers, for example, increased by 9.8% in one year, and that of pet products by 7.3%.
In addition, the paper crisis is making itself felt in stationery prices (notebooks, diaries, envelopes, notebooks, etc.), which have shot up 10% in one year. “The paper industry consumes quite a bit of energy, especially to dry the paper, which must have had an impact on prices,” notes Sébastien Faivre. The prices of newspapers and periodicals rose 5.4%. Finally, that of automobiles rose by 5.1% in one year, less than inflation.
Health and tobacco safe
If most of the spending items of the French, with the exception of energy, see a price increase close to inflation of 6%, three sectors seem, on the contrary, quite safe. The consumer price index for tobacco and health, two regulated sectors, remained almost stable for a year.
The clothing and footwear sector saw prices rise by just 0.6% year-on-year in June. “This is linked to quite important balances, in terms of products and volumes. Perhaps we will find a stronger dynamic from September ”, explains Sébastien Faivre. “In terms of clothing, we are also comparing with a situation in 2021 when we came out of lockdown. There were sanitary restrictions on access to shopping centers, so it is a quite particular comparison”, clarifies the latter.
The rise in prices is not going to stop: according to the Minister of the Economy, Bruno Le Maire, the inflationary peak will begin to fall in mid-2023. In the meantime, the government hopes to lighten the bill for the French with its legislative package on power purchasing.
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