Inflation and purchasing power: who benefits? The winners ?

[Christophe]

10D388B5-0185-4B1D-A344-53FC9F6D3913.png (167.02 Kio) Consulté 1144 fois

[Christophe]

Food inflation in France...

A graph that speaks for itself, but that we are going to comment on all the same. According to INSEE, food prices have increased by around 20% between 2019 and 2023.

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Energy prices have increased by around 28% in 2022 for households compared to 2021 (54% if there had been no tariff shield). This had already led to a heavy loss of purchasing power.
https://www.insee.fr/fr/statistiques/6524161
https://www.insee.fr/fr/statistiques/6655850

Gas and electricity prices just went up 15% in 2023. And fuel prices are likely to go up again, not just because of our little dispute with Russia. Among other sources of tension, global crude oil production (conventional + unconventional) may have peaked in 2018 (to be distinguished from "all liquids" production which will likely exceed its 2018 record, or its non-crude oil share is hardly used for transport, but rather for petrochemicals).

The most up-to-date INSEE tables on the evolution of the energy price index seem to stop in September 2022, but by reconciling the INSEE data with the increases recently announced, it can be estimated that the prices of energy energy for households increased by at least 40% between 2019 and 2023.

The SMIC has increased by around 12% between 2019 and 2023.
https://www.insee.fr/fr/statistiques/1375188

It should also seem obvious that at the same time, the wealthiest have become considerably richer.

If these trends stopped there, our society could stand up. But in all likelihood, things will not stop there. Geopolitical tensions will increase, the climate will continue to drift, water will become scarce, energy will become more expensive, and soils will deteriorate.

Parenthesis on this last point. As shared yesterday, a film by Hervé Payen and Agathe Vannieu will be released on March 11 on soil degradation in the North. While waiting for the release, read this article, “The earth no longer absorbs water because it is dying”: soil degradation filmed in Hauts-de-France.
https://www.reussir.fr/la-terre-se-meur ... s-hauts-de

Parenthesis closed.

As a result of all this, the poor would continue to get poorer, while the better off would consume even more resources.

It doesn't take a rocket scientist to suggest that these social and environmental trends are unsustainable.

As a reminder, Jean-Marc Jancovici had called in an interview last year for "well thought out and accepted rationing", an approach which would be "terribly fair".

[phil59]

Food inflation in France...


Gas and electricity prices just went up 15% in 2023. And fuel prices are likely to go up again, not just because of our little dispute with Russia. Among other sources of tension, global crude oil production (conventional + unconventional) may have peaked in 2018 (to be distinguished from "all liquids" production which will likely exceed its 2018 record, or its non-crude oil share is hardly used for transport, but rather for petrochemicals).

Already there, there is a downside!

The "elec has not increased by 15µ for me, if only the tempo ....

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At the top rate 2022, and at the bottom 2023.

[Obamot]

We could soon position ourselves as a simple citizen... I would see many financial networks that would exclude going through the dollar for online purchases and all kinds of payments... Like a bank card that would not use a transaction to the dollar and others (although this type of means exists in a scattered way, it is progressing...

[Christophe]

You thought inflation in 2022 was a record...wait for the 2023/2022 combo...

But who is "ON"?

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[Macro]

We... It's a jerk

[Remundo]

"we" no doubt designates Leclerc's suppliers.

[Christophe]

Except that supermarkets are famous for fixing the prices of their purchases...for a very long time!

The precision of these figures is also "strange"...

[Macro]

Except that supermarkets are famous for fixing the prices of their purchases...for a very long time!

small example...

The majority of fuels sold in supermarkets are refined by whom... Lepaclerc or auprés refineries??? oukelson these raffs ???

Not long ago....Lepaclerc bought wholesale from fatal or esscro stone oil more expensive than fatal and esscro sold it retail....

Kicekifixelelepri?

Renowned...Reputation is one thing...Reality another...

I'll stay cool with the reputation and the reality...

[Christophe]

You're quite heavy lately Macro, always in the lowering, the contradiction ... obviously the price of fuel is an exception, so not an "example" sorry!

Are the fuels in Leclerc's message above?

I was talking about food...