The 60 Million consumers association analyzed a standard basket of 31 products. Result: prices increased by 2.44% compared to February 2021.
+ 11.4% for pasta, + 3.4% for pulses or even + 2.4% for rice. According to a recent study by the NielsenIQ institute, which collects data from 10,000 retail outlets, several product categories suffered galloping inflation between February 2021 and 2022.
For nearly six months, in France, inflation has been raging. Rising prices for agricultural raw materials and energy put farmers and manufacturers under pressure. And the war in Ukraine does not help the situation.
+ 2.50% for coffee, + 11.20% on pasta…
Stratagems to raise the price
To analyze the price increase, 60 million consumers launched its “Inflation Observatory”. The idea? With the help of the NielsenIQ Institute, the magazine has defined a “typical basket” of 31 products called “first need”, mixing first prices, private labels and major brands. In February 2022 (compared to February 2021), basket prices climbed 2.44%, the biggest increase since September of last year.
“We are only at the beginning of inflation, analyzes Lionel Maugain. We expect very strong increases in the coming weeks. We’ve already seen big increases on first price and private label that aren’t subject to national brand trade agreements.” It is therefore the most modest households that bear the full brunt of the increase. But if the major brands remain deflationary for the moment (- 0.20% according to the latest NielsenIQ statements), negotiations between distributors and food manufacturers have reopened following the war in Ukraine: “Logically, inflation should affect these products in the coming days”says the specialized journalist.
Another phenomenon to watch closely: “hidden inflation”. Mechanisms put in place by manufacturers to increase their prices without it being visible: “Seemingly the price is not moving, but in reality they are resorting to schemes to increase the price, either by decreasing the quantity of the product or by changing the recipe.” Strategies often flushed out thanks to the vigilance of consumers, such as this famous tomato sauce whose recipe has gone from 91% fresh tomatoes to 27% tomato puree.
