INSEE reported 1.2% household consumption growth in September.

According to the statistics institute's analysis, this rise may be traced to an increase in the consumption of produced items as well as energy.

The National Institute of Statistics stated on Friday that the level of consumption by French households increased by 1.2% in September, following a month in which it remained unchanged (+0.1%). (Insee). This rise is mostly attributable to the rise in the consumption of manufactured goods (up 2.2% year over year) and energy (up 2.9% year over year). According to the INSEE, “Food consumption continued its downward trend, falling by 0.7%.”

Specifically, spending on durable items, such as furniture or appliances for homes or automobiles, as well as expenditure on apparel, which increased by 6%, was the primary factor that drove up overall consumption of manufactured products. According to the findings of the INSEE, “during the entire third quarter of 2022, household consumption of manufactured products was practically steady (+0.1%).” The amount of energy that was consumed increased significantly after a brief decrease the previous month. presumably about the government's decision to increase the discount at the pump to 30 centimes per liter on September 1 of this year. In addition to this assistance, a discount of 20 centimes per liter was made available at service stations operated by TotalEnergies.

The other side of the coin is that food consumption, which was already down 1.2% in August, continues to hover around the same level in the backdrop of inflation. It was down 1.6% throughout the entire quarter. According to INSEE's findings from September, “the reduction mostly affects the consumption of agricultural products.” According to a report that was only released a week ago by panelist Nielsen, many fresh products, such as meat or eggs, are actually among the foods that have been most affected by rising prices. The usage of tobacco “goes down again,” according to INSEE's findings. The amount that households spend on their consumption is 3% lower than it was in September 2021.

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