2023-07-13 07:12:36
The slowdown in consumer price inflation in France, to 4.5% over one year, was confirmed Thursday July 13 by INSEEbut food prices continued to soar, rising 13.7%.
Over one month, however, inflation resumed its ascent with an increase of 0.2% in June, once morest a drop of 0.1% in May, due to a slight rebound in the prices of petroleum products last month, a specified the National Institute of Statistics.
So-called core inflation, which excludes the most volatile prices and those subject to government intervention, making it possible to identify a long-term trend, remained high at 5.7% over one year, but it slowed down slightly from compared to May (5.8%).
Compared to June 2022, energy prices fell by 3%, inflation having already been driven for several months by the rise in food products, which represent a larger share of consumption by low-income households. The prices of fresh produce accelerated to 11.2% increase, following 10.7% due to the faster increase in fruit prices. The sub-category including milk, cheeses and eggs saw an increase of 19.8% over one year, meat by 11.9%, bread and cereals by 14.1%, sugar, jam, honey, chocolate and confectionery by 16.3%.
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Manufactured goods are up by 4.2% compared to June 2022. Among them, clothing and footwear increased over one year by 4.9%, once morest 2.6% in May, which INSEE explains by “a shift in the calendar of summer sales, which started on June 28 in 2023 once morest June 22 in 2022”.
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The prices of services, which alone account for half of the average consumer basket, rose by 3%. Among these, the prices of accommodation take 5.1%, those of catering 5.6%, plane tickets 9.9%, trains 8.5% and road transport 4.7% . Also classified under services, the category “rent, water and garbage collection” saw its rise limited to 2.8%.
The fall in energy prices is due to that of petroleum products, which fell by 17.2%, those of gasoline falling by 11.3% and those of diesel by 18.8%. But electricity has risen by 10.1% and gas by 22%.
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