Insee Première · July 2024 · n° 2002

Household consumption in 2023 Household consumption slowed significantly in a context of high inflation

In 2023, household final consumption expenditure slowed significantly in volume (+0.8%), after rebounding in the wake of the health crisis. 2023 was marked by a high inflation (+7.1% in annual average), especially for food products (+12.2%): expenditure on these products decreased by 3.1% in volume. On the other hand, consumption of services increased, but more slowly than in 2022, particularly for activities affected by the health crisis which were still in a catching-up phase (restaurants and accomodation services; recreation, sport and culture).

The purchasing power of household disposable income increased slightly (+0.8% and +0.3% per consumption unit): the increase in gross disposable income was moderated by strong price growth. The household savings rate was almost stable: it standed at 16.9% and remained at a higher level than before the crisis.