The cost of ingredients to make a traditional French coq au vin rose again in June, defying a continued decrease in the pace of overall inflation in a sign that lower energy and wholesale prices are slow to feed through to supermarket shelves.
Bloomberg’s custom index, which calculates how much households need to spend on items needed to cook the poultry dish, was up 10.6% year-on-year in June. The rates of increase in the prices of carrots, onions and mushrooms accelerated from May.
The pace of the overall year-on-year jump eased from 12.4% in the previous month, helped by slowing poultry price rises. Still, the gauge — based on data from the National Statistics Institute and the Ministry of Agriculture and Nutrition — showed the total cost of the dish reached a new high of €19.42 ($21.75).
Headline inflation in France slowed in June to its lowest rate since March last year, at 5.3%. However, food price increases remain high at 13.7%, with fresh produce 14.1% more expensive.
The price of chicken, which is the most expensive ingredient in the recipe, rose 9.3% from a year ago — the first time the rate has dipped below 10% in more than 12 months.
Bloomberg’s separate monthly Paella Index jumped by 14.5% in June from a year earlier, even as the pace of overall gains in consumer prices in neighboring Spain slowed below 2%.
This story was produced with the assistance of Bloomberg Automation.
