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Consumer prices increased by 0.1% in April 2016; year-on-year, they were down 0.2%

Prices index – April 2016

Monthly change: +0.1%; Year-on-year: -0.2%

In April 2016, the Consumer Prices Index (CPI) grew by 0.1% after +0.7% in March. Seasonally adjusted, it increased by 0.1%, as in the previous month. Year-on-year, the CPI diminished by 0.2% after -0.1% in March.

This slight rise of consumer prices over the month came mainly from service and, to a lesser extent, from a further increase in petroleum product prices. Conversely, manufactured product prices faltered in April as a result of sales promotion. Food prices were overall stable.

Increase in service prices

Service prices edged up again (+0.2% in April 2016 after +0.1% in March). Year-on-year, they accelerated modestly: their rise amounted to +1.0% after +0.9% in March and +0.8% in February. The rise over the month was largely due to higher prices of mobile telephone services (+1.7%; +3.2% year-on-year) and passenger transport by air (+3.7%; -7.0% year-on-year). Insurance prices increased significantly too (+1.1%; +2.4% year-on-year) on account of the end of discounts and rises in motor vehicle insurance. In addition, the seasonal decline in prices of holiday accommodation was less pronounced in April this year (-3.2% against -4.9% in April 2015, +3.6% year-on-year after +1.8% in March) due to earlier spring school holidays this year.

Detailed figures for various groups
2015: 100
*: seasonally adjusted
Geographical coverage: France excluding Mayotte
Source: INSEE - Consumer Price Indexes
Items Weight Index Percentage change
2016 April 2016 m-on-m change y-on-y change
a) All households
Overall 10000 100.09 0.1 -0.2
Overall SA* 10000 99.85 0.1 -0.2
Food 1615 100.36 0.0 0.4
Fresh food 217 102.06 -0.1 1.5
Other food 1398 100.10 0.0 0.2
Tobacco 195 100.09 0.0 0.0
Manufactured products 2651 100.41 -0.2 -0.6
Clothing and footwear 414 104.40 0.4 0.0
Medical products 466 97.38 -0.5 -3.6
Other manufactured products 1771 100.20 -0.3 0.0
Energy 773 95.18 0.3 -6.8
Petroleum products 419 91.60 1.5 -12.1
Services 4766 100.67 0.2 1.0
Actual rentals and services for dwellings 768 100.58 0.0 0.4
Medical services 598 100.38 0.1 0.4
Transport 279 97.39 1.2 -3.1
Communication 245 101.80 1.2 2.1
Other services 2876 100.97 0.1 1.5
Total except rents and tobacco 9183 100.08 0.1 -0.2
Total except tobacco 9805 100.09 0.1 -0.2
b) Urban working-class households or households of employees
All products excluding tobacco 9704 100.10 0.1 -0.2
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9696 99.91 0.1 -0.4

Further upturn in energy prices

Energy prices rose further in April (+0.3% after +0.9% in March 2016). However, they remained far below their last year's level (-6.8% after -6.9% in March). This second consecutive improvement was buoyed by higher oil prices (+1.5% after +2.5% in March; -12.1% year-on-year), in the wake of the upturn in crude oil prices since February. Thus, prices of fuels and lubricants strengthened (+1.7% in April; -10.5% year-on-year) as well as liquid fuels prices (+0.6%; -21,5% year-on-year). However, gas prices continued to fall (-3.1% after -2.6% in March; -10.8% year-on-year) while electricity prices had been unchanged for three months (+4.1% over one year).

Lower manufactured prices

In April 2016, manufactured product prices diminished by 0.2% over one month. Year-on-year, their decline worsened (-0.6% after -0.2% in March). Many promotions were driving this downturn, especially for furniture and furnishings (-0.9%; -0.2% year-on-year), and new motor cars (-1.6%; +0.2% year-on-year). Besides, medical products prices dipped again (-0.5%; -3.6% year-on-year). These falls were only partly offset by the slight rebound in prices for clothing and footwear (+0.4%; unchanged year-on-year), chiefly this last one (+1.6% over one month; +0.1% year-on-year), owing to the release of the summer collections.

Stability in food prices

In April 2016, food prices were steady. Year-on-year, they were up 0.4%, as in March. Prices of fresh foodstuffs (-0.1%;+1.5% year-on-year) as well as those of processed products (stable for the third consecutive month, +0.2% year-on-year since January 2016) remained practically unchanged.

Core inflation stable over one year

In April 2016, the core inflation indicator (ISJ) grew by 0.1% month-on-month and by 0.6% year-on-year, as in March. The Harmonised Index of Consumer Prices (HICP) expanded also by 0.1% over one month. Over one year, it slipped by 0.1% for the third month in a row.

Consumer price index (CPI), core inflation (ISJ)* and Harmonised Indices of Consumer Prices (HICP)** year-on-year changes

Consumer price index (CPI), core inflation (ISJ)* and Harmonised Indices of Consumer Prices (HICP)** year-on-year changes
Detailed figures for core inflation* and HICP**
2015: 100
* Core inflation indicator excludes public sector prices, the most volatile consumer prices and the tax measures. Seasonally adjusted, this index is calculated for all households in France excluding overseas departments and territories. (in French “indice d'inflation sous-jacent - ISJ)
**HICP: Harmonised Indices of Consumer Prices are inflation figures designed for international comparison of consumer price inflation between Member states of the European Union. This index is calculated for all households in France excluding Mayotte.
Source: INSEE - Consumer Price Indexes
Items Weight Index Percentage change
2016 April 2016 m-on-m change y-on-y change
Core inflation - All items 6075 100.52 0.1 0.6
Food excluding fresh products, meat, milk and exotic products 735 100.01 0.1 0.0
Manufactured products 2136 100.05 -0.4 0.0
Services including actual rentals and services for dwellings 3204 100.97 0.4 1.2
HICP - All items 100.19 0.1 -0.1

Revisions

The monthly and annual rates of change in the CPI and the HICP for April 2016 are not revised compared to the provisional estimates released on 29 April 2016.

Informations Rapides

n° 121 - May 12, 2016

Consumer price index - final results - April 2016

Next issue June 15, 2016 08:45 - May 2016

For further information

See also