Informations Rapides · 31 October 2023 · n° 276

Household consumption expenditure on goods rose slightly in September 2023 (+0.2%) Household consumption expenditure on goods - September 2023

In September 2023, household consumption expenditure on goods rebounded slightly over one month (+0.2% in volume* after -0.6% in August 2023 – revised data). This slight rebound was mainly driven by an increase in food consumption (+1.2%). Energy consumption fell again (-1.3% after -0.7%). Consumption of engineered goods was virtually stable (+0.1% after -0.8%).

Over the third quarter of 2023 as a whole, household consumption of goods increased by 0.8% compared with that of the second quarter of 2023.

In September 2023, household food consumption rebounded sharply (+1.2% after -0.3% in August-revised methodology, see Revisions paragraph), driven by increased purchases of agri-food products, in particular beverages, bakery products and pasta. Purchases of agricultural products also contributed to the rebound in food consumption.

Tobacco consumption fell again.

Over the third quarter of 2023 as a whole, household food consumption was up by 0.7% compared with that of the second quarter of 2023. This is the first quarterly increase since the first quarter of 2021.

In September 2023, household energy expenditure kept decreasing (-1.3% after -0.7% in August 2023 – revised data) under the effect of the decline in electricity, gas and fuel consumption.

Over the third quarter of 2023 as a whole, energy consumption rose very slightly (+0.2%) compared with that of the second quarter of 2023.

In September 2023, household consumption of engineered goods was virtually stable (+0.1%, after -0.8% in August 2023 – revised data).

Over the third quarter of 2023 as a whole, purchases of engineered goods were up by 1.2% compared with that of the second quarter of 2023.

In September 2023, consumption of durable goods rose by 0.3% (after -0.7%). It was mainly driven by a slight rebound in spending on household equipment (+0.8% after -5.5%). In particular, purchases of computers and telephones rose sharply.

In September 2023, spending on clothing and textiles was virtually stable (+0.1% after -2.4% in August). The increase in shoes and leather purchases was counterbalanced by the drop in spending on clothing and textiles.

In September 2023, household consumption of “other engineered goods” was slightly down again (-0.2% after -0.1%).

The monthly change in household consumption of goods for August 2023 has been revised downwards by 0.1 points, to -0.6%. Since the previous publication, new information has been incorporated and the coefficients of seasonal adjustment (SA) and working day adjustment (WDA) have been updated.

In addition, a new methodology for estimating monthly food consumption has been implemented for data from 2020 onwards.

Indicators based on data of retail chains (for supermarket purchases) and turnover index (for purchases in specialised stores) are now used, enabling to work at a finer level by product than was possible with the Banque de France's more aggregated retail indicators, notably for the construction of volume trends based on values and prices.

This change has led to a significant upward revision in food consumption over the most recent months. The diagnosis of an unprecedented drop in food consumption is not questioned, but the scale of this decline since mid-2021 is reduced by around a third.

This new methodology does not challenge that of the annual national accounts, already implemented at an even more detailed level, and monthly consumption remains calibrated on the annual accounts published last May until 2022.