INSEE has just reviewed inflation in France in August. The Institute now estimates that consumer prices rose 5.9% year on year, after rising 6.1% in July.
“This slight fall in inflation results from the slowdown in energy prices (+22.7% after +28.5%), particularly those of petroleum products (+28.7% after +39.0%). The prices of services increased over one year at the same rate as the previous month (+3.9%). Those of food accelerated (+7.9% after +6.8%) as well as those of manufactured goods (+3.5% after +2.7%)”can we read on the INSEE press release.
In August 2022, consumer prices increased by 0.5% month on month and 5.9% year on yearhttps://t.co/AfHIdUZvlZ
— Insee (@InseeFr) September 15, 2022
This situation worries the French, and this is reflected in their behavior on Google
In a post published this month of September, the Mountain View firm discusses the trends it has observed in France, in relation to inflation.
According to the publication, this inflation is characterized by a need to better know the prices of products. And this concerns both basic necessities, such as heating oil, as well as leisure. And as the screenshot below shows, searches for the word “rise” have soared from the previous year.
Google has also noticed that people are increasingly looking for ways to gain purchasing power. Thus, searches to cancel a subscription or to obtain a refund have gained interest. Searches such as “food voucher” or “travel bonus” are also more numerous.
And of course, the French go to Google to find good deals. According to the search engine, interest in “cheaper” searches increased by 95% in early September 2022 compared to the previous year.
Another phenomenon observed by Google: people want to understand better.
“Google Trends reveals that Internet users seek to understand the mechanisms of inflation, especially since this subject has become recurrent in the media. The increase in search trends around “inseed inflation”, “retirement inflation”, “inflation forecast” or even “consumer price index” is proof of this need to better understand inflation through an indicator of confidence or on a specific segment”we read in the publication.
Around the world, a growing interest in second-hand products
Inflation favors the purchase of second-hand products. And this is well highlighted by another publication from Google, on global trends. The Mountain View firm observes that the current situation sometimes favors more eco-responsible lifestyles.
The search engine cites as an example the fact that in the past, second-hand products had a negative connotation, whereas today, we are witnessing an explosion of resale sites and apps.
On the other hand, research on how to save energy has reached record levels this year.