2024-01-12 10:17:00
Eit drops slightly, but remains at high levels. Inflation fell slightly on annual average over the whole of 2023, according to an INSEE report published this Friday, January 12. Consumer price inflation slowed to 4.9%, compared to 5.2% in 2022, 1.6% in 2021 and 0.5% in 2020.
In December, inflation rose to 3.7% year-on-year, compared to 3.5% in November. A slight jump which can be explained by the acceleration in the prices of energy and services at the end of the year. But the general trend is indeed towards a slowdown. Main explanatory factor: the easing of energy prices, counterbalancing the increase in food prices.
On an annual average, last year, energy prices increased by 5.6% following 23.1% in 2022, a slowdown mainly due to the “partial decline” in petroleum products.
Slowing trend
On the other hand, prices accelerated in food (11.8% following 6.8%) and for manufactured products (3.5% following 3%). If prices continue to rise, inflation is less dynamic. For food prices, which peaked at almost 16% last spring, the increase amounted to 7.2% year-on-year in December.
The inflationary crisis is “behind us” in France, the Minister of Economy and Finance Bruno Le Maire rejoiced in December, without promising prices at their pre-crisis level due in particular to the cost of the transition energy. In its latest forecasts published in mid-December, INSEE expected inflation to be 2.6% over one year next June and even 1.9% for food.
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