In Q4 2022, household consumption fell back sharply (-1.2% compared to the previous quarter). Gas and electricity consumption tumbled due to the mild weather in October and November and also probably to behavioural adjustments in a context of rising energy prices and encouragement to save energy. In addition, this decline was accentuated by the recording in the accounts of the “energy cheque” paid out to households as consumption by general government, not by households. Food purchases also declined significantly, as they had done throughout 2022, in line with the rise in food prices. This decline may also reflect purchases more focused on lower quality products. Despite the continuing catch-up in purchases of transport equipment, purchases of goods (including energy and food) declined for the fifth consecutive quarter. In services, consumption increased moderately, driven mainly by transport services...