As the economic crisis continues, many players in the distribution sector are planning a sharp rise in prices between April and June 2023. Michel-Edouard Leclerc, CEO of one of France’s largest supermarket chains, recently warned that inflation could reach 10% and food prices were likely to rise by 12.2%.
With no downside on the horizon, it’s time for consumers to prepare for rising costs and take steps to protect their wallets.
Rising prices in France: a worrying phenomenon
The current crisis in France was triggered by the COVID-19 pandemic and the resulting economic downturn. In December 2022, a price drop of 5.9% was recorded, but food prices increased significantly.
The big boss of the Leclerc stores is not optimistic for the period from April to June 2023…
Michel-Edouard Leclerc’s forecasts from April to June 2023
The CEO of Leclerc believes that it is highly likely that prices will continue to rise as the crisis deepens.
The latter thinks that companies are likely to pass on the increase in their costs to consumers, which will result in an increase in the prices of goods and services of everyday life.
Consumers should take steps to protect their wallets, including making informed purchases and taking advantage of promotions and discounts when they are available.
A crisis that will weigh more and more heavily on our portfolios
Inflation will have a major impact on consumers, as it means their purchasing power is reduced. The prices of everyday goods and services are likely to rise, which will strain budgets and prevent many people from making ends meet.
Faced with this announced increase, here are 4 tips to optimize your budget.
Expert advice: How to protect your wallet?
Experts suggest consumers take proactive steps to protect their wallets from inflation. Here are some tips for managing your finances during this difficult time:
1. Watch prices when shopping – be sure to compare the cost of items in different stores and shop around to find the best deals
2. Make a budget – set a budget and stick to it as much as possible so you don’t lose track of your spending
3. Look for discounts – watch for sales and promotions to save on essential items
4. Stock up on essentials when they’re cheaper – buy non-perishable staples such as rice, pasta, and canned goods when they’re on sale or at a discount to save money in your budget.
It is important to be aware of the inflation crisis and take the necessary steps to manage your finances during this difficult time. By following these expert tips, you can try to save your wallet from rising costs.