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Reviews Inflation: record broken in the euro zone, slight slowdown in France

16:52  31 august  2022
16:52  31 august  2022 Source:   liberation.fr

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Au mois d'août, l'inflation a atteint 16,1% sur un an en Pologne. © Jakub Porzycki In August, inflation reached 16.1% over a year in Poland.

figures to be dizzy. 8.4% in Italy, 13.6% in the Netherlands, 16.1% in Poland… The inflation rate over a slippery year is recorded for the month of August in many European countries, according to statistics Published this Wednesday. An never reached bar was also crossed in August for the entire euro zone, with a rate of 9.1% over one year, according to Eurostat. These figures are the highest recorded by the European Statistics Office since the start of the publication of the indicator in January 1997.

among the 19 countries in the euro zone, France is doing less badly than the others and We can even speak of relative good news: for the first time in more than a year, the price increase has slowed down in France in August. It amounted to 5.8% over a year, against 6.1% in July , according to provisional data published Wednesday by INSEE. This slight summer brake on inflation is due "to the slowdown in energy prices", which still won 22.2% over a year, compared to 28.5% in July.

First German city leads 3-euro ticket an

 First German city leads 3-euro ticket an From September the 9-euro ticket will be abolished throughout Germany. But a city defends itself against the step - and counters with its own action. © Justhavenalook/Istock Children in front of bus stop For two months, commuters, families, students and trainees as well as everyone else who have switched to the train since the discount, have been enjoying the advantages of the 9-euro tickets.

The entire economy affected

but inflation has disseminated since energy to other goods and services, and is expected to remain in the permanently high. Food prices increased over a year by 7.7% in August, compared to 6.8% in July. The same goes for manufactured products that increased by 3.5%, compared to 2.7%in the previous month, while the services pulled up by 3.9%, as much as in July. "It is far too early to talk about a real slowdown in inflation" , notes in an analysis note Charlotte de Montpellier, economist of the ING bank. Especially since the price increase continues to accelerate over a month, going from 0.3% between June and July to 0.4% between July and August. In annual shift, it is nevertheless the first deceleration since July 2021, when inflation was limited to 1.2%.

Euro Female 2022. Boris Johnson shines by his absence despite the English victory

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Is the peak of inflation already reached, when it was expected rather for the fall? Difficult to say, in particular due to the uncertainties surrounding the supply of Europe with Russian gas this winter. "The peak I do not know where it is, but sustainable inflation, it is there" , said on Tuesday the CEO of the Carrefour Alexandre Bompard group at the meetings of the entrepreneurs of France (REF), organized by the Medef. "The only thing we are sure of in terms of inflation is what we see rather than what we are planning. Inflation will last, but at a level lower than that we know ", predicted the Minister of Labor Olivier Dussopt, during the same event.

Quid after the end of the energy shield?

Thanks to the energy shield which froze the increase in regulated gas prices since last fall and limited to 4% this year that of electricity prices, inflation is lower than in the other countries of the Euro zone, recalled the Minister of Economy Bruno Le Maire on Tuesday. While indicating that in 2023, the energy prices would increase for French consumers, but in an "contained" . Also, the inflation differential between France and the other European economies will be led to reduce, even to revert, according to economists.

regionally for 29 euros and nationwide for 49 euros: Greens suggest successor duo for 9-euro ticket in front of

 regionally for 29 euros and nationwide for 49 euros: Greens suggest successor duo for 9-euro ticket in front of Two cheap tickets should replace the 9-euro ticket. In order to cover the high costs, the Greens want to stamp the company car privilege. © Photo: dpa/Angelika Warmuth The 9-euro ticket is only valid until the end of August. in the debate about a succession plan for the 9-euro ticket, which only applies until the end of August, Greens politicians propose a regional ticket for 29 euros and a nationwide ticket for 49 euros a month.

Michel Martinez, Europe specialist at Société Générale CIB told AFP that after the end of the price shield, "We will always have lower inflation in France with European inflation. But instead of being three points ", difference " will rather be on the order of a point ", according to him. Charlotte de Montpellier is of the opinion that the price index will be higher in France next year than in neighboring countries, because the latter will benefit from a more favorable comparison base in annual sliding, after increase Stronger prices at home this year.

Anyway, the future development of inflation in France as in the rest of Europe will still depend a lot on energy prices, but also on the economic situation as a whole. The increase in gas prices could "push the costs of businesses" to increase inflation, but due to low demand, companies could also be "less and less capable of Put the cost increases on prices ”, explains the Ing economist.

Inflation: The purchasing power of households should drop by 0.5 % in 2022, according to INSEE .
© LP / Arnaud Journois The measures put in place by the Government this summer have amortized the fall of the power of Purchase, while growth is expected to be 2.6 % in 2022. LP/Arnaud Journois The billions of euros unlocked by the government are paying off.

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