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Monitoring food price changes in the euro area in real time - Lessons from the 2022 24 period
[Suivre l’évolution des prix alimentaires dans la zone euro en temps réel – Les leçons de la période 2022-2024]

Author

Listed:
  • Erwan Gautier
  • Elvira Prades

Abstract

Households closely monitor food prices as they are part of their daily purchases. Driven by a sharp rise in commodity prices in 2021, food prices increased strongly between early 2022 and early 2023, before stabilising in 2023 and 2024. In order to analyse this development as closely as possible, the European Central Bank has developed a web-scraping tool that collects every day several thousand prices set by a number of supermarkets in the euro area and published on the Internet. This article draws some lessons on food price adjustments. During the inflationary wave, price increases were more frequent than usual, but their size remained unchanged. Since mid-2023, price adjustments have normalised, with an equal proportion of increases and decreases. Les ménages suivent avec attention les prix des biens alimentaires car ils font partie de leurs achats du quotidien. Sous l’effet d’une hausse brutale du coût des matières premières en 2021, les prix de l’alimentation ont progressé fortement entre début 2022 et début 2023, avant de se stabiliser courant 2023 et en 2024. Afin d’analyser au plus près cette évolution, la Banque centrale européenne a développé un outil, qui collecte chaque jour plusieurs milliers de prix fixés par plusieurs supermarchés de la zone euro, à partir de techniques dites de « moissonnage des données » publiées sur internet. Cet article en tire quelques leçons sur l’ajustement des prix des produits alimentaires. Lors de la vague inflationniste, les hausses de prix ont été plus fréquentes que d’habitude, mais d’une amplitude inchangée. Depuis mi-2023 l’ajustement des prix s’est normalisé avec une proportion équivalente de hausses et de baisses.

Suggested Citation

  • Erwan Gautier & Elvira Prades, 2025. "Monitoring food price changes in the euro area in real time - Lessons from the 2022 24 period [Suivre l’évolution des prix alimentaires dans la zone euro en temps réel – Les leçons de la période 20," Bulletin de la Banque de France, Banque de France, issue 259.
  • Handle: RePEc:bfr:bullbf:2025:259:01
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    File URL: https://www.banque-france.fr/system/files/2025-08/825117_BDF259_1_EN_Inflation-produits-alimentaires_Vfinale.pdf
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    File URL: https://www.banque-france.fr/system/files/2025-07/BDF259_1_Inflation-produits-alimentaires_web.pdf
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    References listed on IDEAS

    as
    1. Erwan Gautier & Cristina Conflitti & Riemer P. Faber & Brian Fabo & Ludmila Fadejeva & Valentin Jouvanceau & Jan-Oliver Menz & Teresa Messner & Pavlos Petroulas & Pau Roldan-Blanco & Fabio Rumler & Se, 2024. "New Facts on Consumer Price Rigidity in the Euro Area," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(4), pages 386-431, October.
    2. Alberto Cavallo & Roberto Rigobon, 2016. "The Billion Prices Project: Using Online Prices for Measurement and Research," Journal of Economic Perspectives, American Economic Association, vol. 30(2), pages 151-178, Spring.
    3. Antonio G. Chessa & Robert Griffioen, 2019. "Comparing Price Indices of Clothing and Footwear for Scanner Data and Web Scraped Data," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 509, pages 49-68.
    4. Marie Leclair & Isabelle Léonard & Guillaume Rateau & Patrick Sillard & Gaëtan Varlet & Pierre Vernédal, 2019. "Scanner Data: Advances in Methodology and New Challenges for Computing Consumer Price," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 509, pages 13-29.
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