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France: household consumption grows 1.2% in September

Household consumption in France rebounded 1.2% in September, but food consumption fell -0.7%.

Household consumption in France rebounded by 1.2% in September, after a stable month of August (+0.1%), the National Statistics Institute (Insee) reported on Friday.

Home and car purchases

The consumption of manufactured goods was driven in particular by purchases of durable goods, such as home furnishings or automobiles, as well as spending on clothing (+6%).

“Throughout the third quarter of 2022, household consumption of manufactured goods remained almost stable (+0.1%)”, indicates INSEE. Power consumption, which fell slightly the previous month, rebounded strongly “probably in connection with the government’s reinforcement of the discount at pumps” of 30 cents per liter, launched on September 1. To this aid has also been added a discount of 20 cents per liter at TotalEnergies service stations.

Food consumption at half-staff

For its part, food consumption, which was already down 1.2% in August, remains at half-staff in a context of inflation. In the quarter as a whole it fell 1.6%. “The fall refers mainly to the consumption of agricultural products”, notes INSEE in September.

Many fresh products, such as meat or eggs, are among the foods most affected by rising prices, according to a study published last week by panelist Nielsen.

INSEE also notes that tobacco use is “falling again.” Compared to September 2021, household consumption spending fell by 3%.

Author: PD with AFP
Source: BFM TV

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