Inflation in France reached 5.2 percent in May 2022 year-on-year according to the French statistics institution (INSEE). This is the first time inflation has been greater than 5 percent since September 1985. This follows 4.8 percent inflation in April, 4.5 percent in March and 3.6 percent in February.

According to the French statistics institution (INSEE), the consumer price index increased by 4.8 percent year-on-year in March 2022 (compared with 4.5 percent in March, 3.6 percent in February and 2.9 percent in January 2022). Increased energy costs are again the main contributor to inflation. Food inflation was at 3.8 percent, while fresh food inflation was at 6.6 percent.

The week before Easter is a major fish consumption period, especially in those parts of Europe with Catholic populations. This year, Easter also represented the first holiday period after the pandemic-related lockdowns and restrictions which endured throughout the winter months. Restaurants have reopened everywhere and European consumers have been taking full advantage of the return to normality.

The conflict between Russia and Ukraine is impacting the world market for seafood products. The recently imposed sanctions will lead to a disruption of many established trade routes. Among these is the trade of Russian Alaska pollack through China for processing, a product that is now prevented from being re-exported to the US or European market. For the time being, however, Russian exports of Alaska pollack to Chinese processing plants continue without delays. Meanwhile, seafood imported...

The annual consumer price index in the EURO zone was 5.1 percent in January 2022, up from 5.0 percent in December 2021. In France inflation was lower, with the annual consumer price index up 2.9 percent in January 2022, compared with 2.8 percent in December 2021. The increased cost of energy and services is contributing to upward pressure on production costs both at sea and on land. Combined with higher transport costs (especially for imported...