Informations Rapides ·
12 April 2024 · n° 91
In March 2024, consumer prices increased by 0.2% over one month and by 2.3% year on
year Consumer price index - final results - March 2024
- Monthly change: +0.2% in March; year-on-year change: +2.3%
- Decline of core inflation year on year
- The year-on-year slowdown in food prices went on
- Slight deceleration in service prices year on year
- Slowdown in energy prices year on year
- Year on year, manufactured product prices slowed down again
- Revisions
- For further information
Monthly change: +0.2% in March; year-on-year change: +2.3%
In March 2024, the Consumer Price Index (CPI) bounced back over one month: +0.2%, after +0.9% in February. The rise in prices is explained by the seasonal increase of the prices of manufactured products (+1.3% after +0.5%) and a slight increase of those of tobacco (+0.4% after +1.6%). Over one month the prices of food and services were stable (after respectively ‑0.3% and +0.8%). Conversely, the prices of energy decreased (‑0.7% after +4.1%).
Seasonally adjusted, consumer prices fell back by 0.4% in March 2024, after +0.5% in February.
Year on year, consumer prices went up by 2.3% in March 2024, after +3.0% in February. This decrease of inflation resulted from the year-on-year slowdown in the prices of food (+1.7% after +3.6%), services (+3.0% after +3.2%), energy (+3.4% after +4.3%) and manufactured products (+0.1% after +0.4%). The prices of tobacco slowed down sharply (+10.7% after +18.7%) as a result of the year-on-year increase following the sharp rise in March 2023.
Decline of core inflation year on year
Year on year, core inflation decreased again, reaching +2.2% in March 2024, after +2.6% in February.
The Harmonised Index of Consumer Prices (HICP) slowed down over one month (+0.2% after +0.9% in February); year on year, it increased by 2.4% in March 2024, after +3.2% in the previous month.
tableauConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
HICP | CPI | ISJ | |
---|---|---|---|
2024-03 | 2.4 | 2.3 | 2.2 |
2024-02 | 3.2 | 3.0 | 2.6 |
2024-01 | 3.4 | 3.1 | 3.0 |
2023-12 | 4.1 | 3.7 | 3.4 |
2023-11 | 3.9 | 3.5 | 3.4 |
2023-10 | 4.5 | 4.0 | 4.2 |
2023-09 | 5.7 | 4.9 | 4.6 |
2023-08 | 5.7 | 4.9 | 5.0 |
2023-07 | 5.1 | 4.3 | 5.5 |
2023-06 | 5.3 | 4.5 | 5.7 |
2023-05 | 6.0 | 5.1 | 5.7 |
2023-04 | 6.9 | 5.9 | 6.2 |
2023-03 | 6.7 | 5.7 | 6.0 |
2023-02 | 7.3 | 6.3 | 5.8 |
2023-01 | 7.0 | 6.0 | 5.5 |
2022-12 | 6.7 | 5.9 | 5.3 |
2022-11 | 7.1 | 6.2 | 5.3 |
2022-10 | 7.1 | 6.2 | 5.0 |
2022-09 | 6.2 | 5.6 | 4.6 |
2022-08 | 6.6 | 5.9 | 4.8 |
2022-07 | 6.8 | 6.1 | 4.3 |
2022-06 | 6.5 | 5.8 | 3.7 |
2022-05 | 5.8 | 5.2 | 3.6 |
2022-04 | 5.4 | 4.8 | 3.2 |
2022-03 | 5.1 | 4.5 | 2.5 |
2022-02 | 4.2 | 3.6 | 2.4 |
2022-01 | 3.3 | 2.9 | 1.6 |
2021-12 | 3.4 | 2.8 | 2.0 |
2021-11 | 3.4 | 2.8 | 1.8 |
2021-10 | 3.2 | 2.6 | 1.5 |
2021-09 | 2.7 | 2.2 | 1.4 |
2021-08 | 2.4 | 1.9 | 1.0 |
2021-07 | 1.5 | 1.2 | 0.0 |
2021-06 | 1.9 | 1.5 | 1.1 |
2021-05 | 1.8 | 1.4 | 0.9 |
2021-04 | 1.6 | 1.2 | 1.0 |
2021-03 | 1.4 | 1.1 | 1.0 |
2021-02 | 0.8 | 0.6 | 0.5 |
2021-01 | 0.8 | 0.6 | 1.1 |
2020-12 | 0.0 | 0.0 | 0.2 |
2020-11 | 0.2 | 0.2 | 0.4 |
2020-10 | 0.1 | 0.0 | 0.3 |
2020-09 | 0.0 | 0.0 | 0.5 |
2020-08 | 0.2 | 0.2 | 0.4 |
2020-07 | 0.9 | 0.8 | 1.3 |
2020-06 | 0.2 | 0.2 | 0.3 |
2020-05 | 0.4 | 0.4 | 0.5 |
2020-04 | 0.4 | 0.3 | 0.2 |
2020-03 | 0.8 | 0.7 | 0.7 |
2020-02 | 1.6 | 1.4 | 1.4 |
2020-01 | 1.7 | 1.5 | 1.0 |
2019-12 | 1.6 | 1.5 | 1.1 |
2019-11 | 1.2 | 1.0 | 0.9 |
2019-10 | 0.9 | 0.8 | 1.0 |
2019-09 | 1.1 | 0.9 | 0.9 |
2019-08 | 1.3 | 1.0 | 0.7 |
2019-07 | 1.3 | 1.1 | 0.9 |
2019-06 | 1.4 | 1.2 | 0.9 |
2019-05 | 1.1 | 0.9 | 0.5 |
2019-04 | 1.5 | 1.3 | 0.7 |
2019-03 | 1.3 | 1.1 | 0.5 |
2019-02 | 1.6 | 1.3 | 0.7 |
2019-01 | 1.4 | 1.2 | 0.6 |
2018-12 | 1.9 | 1.6 | 0.7 |
2018-11 | 2.2 | 1.9 | 0.7 |
2018-10 | 2.5 | 2.2 | 0.8 |
2018-09 | 2.5 | 2.2 | 0.7 |
2018-08 | 2.6 | 2.3 | 0.9 |
2018-07 | 2.6 | 2.3 | 0.8 |
2018-06 | 2.3 | 2.0 | 0.8 |
2018-05 | 2.3 | 2.0 | 1.0 |
2018-04 | 1.8 | 1.6 | 0.8 |
2018-03 | 1.7 | 1.6 | 0.9 |
2018-02 | 1.3 | 1.2 | 0.7 |
2018-01 | 1.5 | 1.3 | 0.8 |
2017-12 | 1.2 | 1.2 | 0.6 |
2017-11 | 1.2 | 1.2 | 0.5 |
2017-10 | 1.2 | 1.1 | 0.5 |
2017-09 | 1.1 | 1.0 | 0.5 |
2017-08 | 1.0 | 0.9 | 0.5 |
2017-07 | 0.8 | 0.7 | 0.5 |
2017-06 | 0.8 | 0.7 | 0.4 |
2017-05 | 0.9 | 0.8 | 0.3 |
2017-04 | 1.4 | 1.2 | 0.5 |
2017-03 | 1.4 | 1.1 | 0.4 |
2017-02 | 1.4 | 1.2 | 0.2 |
2017-01 | 1.6 | 1.3 | 0.6 |
2016-12 | 0.8 | 0.6 | 0.4 |
2016-11 | 0.7 | 0.5 | 0.6 |
2016-10 | 0.5 | 0.4 | 0.5 |
2016-09 | 0.5 | 0.4 | 0.7 |
2016-08 | 0.4 | 0.2 | 0.4 |
2016-07 | 0.4 | 0.2 | 0.5 |
2016-06 | 0.3 | 0.2 | 0.7 |
2016-05 | 0.1 | 0.0 | 0.6 |
2016-04 | -0.1 | -0.2 | 0.6 |
2016-03 | -0.1 | -0.1 | 0.7 |
2016-02 | -0.1 | -0.2 | 0.7 |
2016-01 | 0.3 | 0.2 | 0.9 |
2015-12 | 0.3 | 0.2 | 1.0 |
2015-11 | 0.1 | 0.0 | 0.9 |
2015-10 | 0.2 | 0.1 | 0.8 |
2015-09 | 0.1 | 0.0 | 0.6 |
2015-08 | 0.1 | 0.0 | 0.5 |
2015-07 | 0.2 | 0.2 | 0.6 |
2015-06 | 0.3 | 0.3 | 0.5 |
2015-05 | 0.3 | 0.3 | 0.5 |
2015-04 | 0.1 | 0.1 | 0.4 |
2015-03 | 0.0 | -0.1 | 0.2 |
2015-02 | -0.3 | -0.3 | 0.2 |
2015-01 | -0.4 | -0.4 | 0.1 |
2014-12 | 0.1 | 0.1 | -0.1 |
2014-11 | 0.4 | 0.3 | -0.1 |
2014-10 | 0.5 | 0.5 | 0.0 |
2014-09 | 0.4 | 0.3 | 0.0 |
2014-08 | 0.5 | 0.4 | 0.3 |
2014-07 | 0.6 | 0.5 | 0.1 |
2014-06 | 0.6 | 0.5 | 0.1 |
2014-05 | 0.8 | 0.7 | 0.3 |
2014-04 | 0.8 | 0.7 | 0.5 |
2014-03 | 0.8 | 0.6 | 0.4 |
2014-02 | 1.1 | 0.9 | 0.8 |
2014-01 | 0.8 | 0.6 | 0.2 |
graphiqueConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
![Chargement en cours](/static/img/preloader.gif)
- Source: INSEE
The year-on-year slowdown in food prices went on
Year on year, food prices rose by 1.7% in March 2024, after +3.6% in February. They thus slowed down for the twelfth month in a row.
Excluding fresh products, the year-on-year rise in food prices softened (+2.7% after +4.1%) notably for bread and cereals (+2.5% after +4.2%), meat (+1.5% after +2.3%), milk, cheese and eggs (+2.7% after +4.8%), sugar, jam, honey, chocolate and confectionery (+3.9% after +5.8%), alcoholic (+3.0% after +4.1%) and non-alcoholic beverages (+4.1% after +5.7%). The prices of oils and fats increased at the same rate as in the previous month (+3.0%).
The prices of fresh products fell back (‑3.9% after +0.4%), driven by the strong decrease of those of fresh vegetables (‑11.8% after ‑3.8%). This explains by a marked decrease in prices over a month and also by a base effects: they had strongly increased between February and March 2023. The prices of fresh fruits slowed down year on year in March 2024 (+0.4% after +1.7%) and those of fresh fish fell back (‑0.8% after +2.9%).
Slight deceleration in service prices year on year
Year on year, service prices increased by 3.0% in March 2024, after +3.2% in February.
This slight slowdown is linked to the slowdown of prices of rents, water and household refuse collection (+2.7% after +2.9%), health services (+1.5% after +1.6%) and “other services” (+3.9% after +4.0%), notably those of catering (+3.8% after +4.1%), insurance services (+5.5% after +8.0%), maintenance and repair of private vehicles (+5.8% after +6.2%) and accommodation services (+1.3% after +2.2%). The prices of social protection increased at the same rate than in February (+4.0%). Contrariwise, the prices of cultural and recreational services (+5.9% after +3.2%) and maintenance and repair of the dwelling (+2.8% after +2.7%) accelerated.
The prices of communications services continued to decrease (‑6.3% after ‑4.1%).
Conversely, the prices of transport slightly accelerated (+3.0% after +2.8%), notably those of airfares (+7.1% after +6.0%) and transport by train (+4.7% after +2.8%), while those of transport by road fell back year on year (‑0.4% after +0.8%).
tableauDetailed figures for various groups
Items | Weight | Index | Percentage change | |
---|---|---|---|---|
2024 | March 2024 | m-on-m change (2) | y-on-y change (3) | |
a) All households | ||||
Overall | 10,000 | 119.47 | 0.2 | 2.3 |
Overall SA(1) | 10,000 | 119.10 | -0.4 | 2.3 |
Food | 1,507 | 131.38 | 0.0 | 1.7 |
Fresh food | 185 | 151.69 | -1.2 | -3.9 |
Other food | 1,322 | 128.11 | 0.2 | 2.7 |
Tobacco | 177 | 185.92 | 0.4 | 10.7 |
Manufactured products | 2,324 | 105.22 | 1.3 | 0.1 |
Clothing and footwear | 347 | 106.63 | 6.8 | 0.4 |
Medical products | 398 | 84.98 | 0.0 | -1.4 |
Other manufactured products | 1,579 | 110.24 | 0.5 | 0.4 |
Energy | 832 | 162.13 | -0.7 | 3.4 |
of which petroleum products | 430 | 151.67 | -0.2 | -2.0 |
Services | 5,160 | 114.80 | 0.0 | 3.0 |
Rents, water and household refuse collection | 796 | 110.65 | 0.2 | 2.7 |
Health services | 617 | 103.21 | 0.0 | 1.5 |
Transport | 293 | 119.51 | -0.9 | 3.0 |
Communication | 204 | 93.72 | -1.6 | -6.3 |
Other services | 3,250 | 120.15 | 0.1 | 3.9 |
Total except rents and tobacco | 9,181 | 119.24 | 0.2 | 2.1 |
Total except tobacco | 9,823 | 118.40 | 0.2 | 2.1 |
b) Urban working-class households or households of employees | ||||
All products excluding tobacco | 9,731 | 117.72 | 0.2 | 2.1 |
c) Households in the first quintile of the living standards distribution | ||||
All products excluding tobacco | 9,712 | 118.49 | 0.2 | 2.1 |
- (1) seasonally adjusted
- (2) : [m/(m-1)]
- (3) : [m/(m-12)]
- Geographical coverage: France
- Source : INSEE – Consumer Price Indices
Slowdown in energy prices year on year
Year on year, the prices of energy rose by 3.4% in March 2024, after +4.3% in February.
This year-on-year slowdown can be explained by the decrease in the prices of gas (‑11.3% after ‑7.6%) and the slowdown of those of electricity (+20.4% after +23.1%).
In contrast, the prices of petroleum products decreased at a slower rate than in the previous month (‑2.0% after ‑2.3%). The fall is due to a combination of lower fuel prices (‑2.0% after ‑3.1%), lower diesel prices (‑2.3% after ‑2.0%) and lower liquid fuel prices (‑3.2% after ‑2.1%).
Lastly, the prices of solid fuel decreased at a soften rate than in February (‑11.0% after ‑12.1%).
Year on year, manufactured product prices slowed down again
Year on year, the prices of manufactured products increased by 0.1% in March 2024, after +0.4% in February. They thus slowed down for the ninth month in a row.
The prices of clothing and footwear increased slower than in February (+0.4% after +0.9%) and those of health products decreased at the similar pace than the previous month (‑1.4% after ‑1.3%).
The prices of “other manufactured products” slowed down too (+0.4% after +0.7%), notably those of newspapers and periodicals (+3.2% after +3.6%), glassware, tableware and household utensils (+1.4% after +2.4%) and equipment for sport (1.2% after +2.1%), while those of major household appliances (‑2.5% after ‑2.4%) and games, toys and hobbies (‑3.8% after ‑3.7%) decreased year on year at a slightly faster pace than in the previous month. Contrariwise, the prices of non-durable household goods slightly accelerated year on year (+1.6% after +1.5%), those of vehicles decreased at a slower rate (‑0.3% after ‑0.4%) and those of furniture and furnishings slightly increased (+0.1% after ‑0.2%).
tableauDetailed figures for Core inflation and HICP
Items | Weight | Index | Percentage change | |
---|---|---|---|---|
2024 | March 2024 | m-on-m change (1) | y-on-y change (2) | |
Core inflation - All items | 6273 | 115.39 | -0.2 | 2.2 |
Food excluding fresh products, meat, milk and exotic products | 779 | 123.89 | 0.0 | 2.8 |
Manufactured products | 1879 | 108.23 | -0.1 | 0.2 |
Services including actual rentals and services for dwellings | 3615 | 117.93 | 0.0 | 3.1 |
HICP - All items | 10000 | 122.65 | 0.2 | 2.4 |
- (1) : [m/(m-1)]
- (2) : [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Revisions
Compared to the provisional estimates published on 29 March 2024, the month-on-month and year-on-year changes in CPI are confirmed. The month-on-month change in HICP has been revised downwards by 0.1 point, its year-on-year change is confirmed.
For further information
Next publication of final results: 15 May 2024 at 8:45 am.
Documentation
CPI: methodological changes for 2024 (pdf,111 Ko)
Abbreviated Methodology (pdf,131 Ko)
Pour en savoir plus
Next publication of final results: 15 May 2024 at 8:45 am.