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Consumer prices increased by 0.7% in February 2015; they decreased by 0.3% year-on-year

Prices index – February 2015

In February 2015, the Consumer Price index (CPI) grew by 0.7%, after a decrease by 1.0% in January. Year-on-year, consumer prices diminished again (—0.3% after —0.4% in January). In February 2015, the main contributors to the price rises were the seasonal increases in manufactured product prices at the end of winter sales and in tariffs of services linked with winter holidays. Some upward pressures came also from the rebound of petroleum product prices and a new increase in fresh foodstuff prices.

Seasonal increases in manufactured product prices after winter sales

Prices of manufactured products bounced back after winter sales. Price recoveries were less pronounced than last year (+1.0% versus +1.3% in February 2014; —1.7% year-on-year) due to the effects of the introduction this year of an additional week of sales in February. It has contributed to limit the increase in prices of clothing and footwear (+4.5% versus +6.2% in 2014; —2.6% year-on-year) and, in a lesser manner, in prices of other products such as furniture and furnishings (+0.9% versus +1.9% in 2014; —0.9% year-on-year) or household textiles (+1.5% after +2.6% in 2014; —0.9% year-on-year). On the other hand, for some products, the price rises after the sale period were almost the same this year than last year. Thus, prices of domestic appliances grew by 0.7% in February 2015 (+0.6% in 2014; —2.3% year-on-year), those of appliances for personal care by 0.4% (+0.3% in 2014; —1.4% year-on-year) and those of personal effects by 1.5% (+1.6% in 2014; +0.2% year-on-year).

Detailed figures for various groups
base 100 : année 1998
Source : INSEE - Consumer Price Indexes
Weights Index Percentage changes
Items 2015 Feb. 2015 m-on-m m-on-m
a) All households - France
All items (00 E) 10000 127.28 0.7 -0.3
All items SA (00 C) 10000 127.71 0.3 -0.2
Food (4000 E) 1662 132.06 0.2 0.1
Fresh food (4001 E) 211 142.93 1.3 3.9
Food excluding fresh products (4002 E) 1451 130.53 0.0 -0.5
Tobacco (4034 E) 199 258.61 0.0 0.0
MANUFACTURED PRODUCTS (4003 E) 2584 98.14 1.0 -1.7
Clothing and footwear (4004 E) 437 98.20 4.5 -2.6
Medical products (4005 E) 427 77.13 -0.3 -3.0
Other manufactured products (4006 E) 1720 103.33 0.6 -1.2
ENERGY (4007 E) 815 170.65 2.1 -5.3
Petroleum products (4008 E) 418 179.42 4.7 -12.1
SERVICES (4009 E) 4740 137.11 0.4 1.3
Actual rentals and services for dwellings (4010 E) 767 143.42 0.2 0.9
Medical services (4011 E) 568 122.92 0.1 0.8
Transport and communication services (4012 E) 510 96.61 0.8 0.9
Other services (4013 E) 2895 147.99 0.5 1.6
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9192 124.64 0.7 -0.3
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9801 125.37 0.7 -0.3
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9714 125.19 0.6 -0.2
ALL ITEMS (00 D) 10000 128.00 0.6 -0.2
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9687 126.41 0.6 -0.3
Detailed figures for Core inflation* and HICP**
* ISJ : 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 (base 100 1998).
**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 (base 100 2005).
Source : INSEE - Consumer Price Indexes
Items Weights Index Percentage changes
2015 Feb. 2015 m–on–m m–on–m
All items "Core inflation" (4022 S) 6042 122.64 0.2 0.1
Food excluding fresh products, meat, milk and exotic products (4019 S) 715 124.83 0.0 -0.9
Manufactured products (4020 S) 2103 103.66 0.6 -1.5
Services including actual rentals and services for dwellings (4021 S) 3224 140.60 0.2 1.3
All items HICP (00 H) 115.01 0.7 -0.3

Consumer price index (IPC) and Core inflation (ISJ) – year-on-year changes

Consumer price index (IPC) and Core inflation (ISJ) – year-on-year changes

Source : Insee - Consumer Price Indexes

Sharp upturn in energy prices

In February 2015, energy prices recovered, increasing by 2.1% month-on-month owing to petroleum products. However, they remained in decline year-on-year (—5.3%). After six consecutive months of fall, petroleum product prices increased by 4.7% in February (—12.1% year-on-year) in the wake of the rebound in oil prices. Prices of heat fuels rose by 7.8% (—17.3% year-on-year) and those of fuels for transport by 4.4% (—11.4% year-on-year). Moreover, town gas prices decreased (—1.2% after +1.6% in January ; +0.6% year-on-year) while electricity tariffs remained stable (+4.3% year-on-year).

Seasonal increase in service prices

Service prices increased by 0.4% in February 2015 (+1.3% year-on-year), as in February 2014. This rise came mainly from prices of services related to winter holidays: prices of holiday accommodation services rose strongly in February 2015 (+22.3%). Vacation rental tariffs (+1.3%; +4.4% year-on-year), airfares (+2.0% in February 2015; +0.9% year-on-year) and prices of package holidays (+1.9%; +1.8% year-on-year) increased also but in a lesser manner. Besides, after few months of relative stability, prices of communication services grew in February 2015 (+1.0%; —1.3% year-on-year). On the opposite, actual rentals for housing continued to slow (+0.7% year-on-year in February 2015, after +0.9% in January 2015). Furthermore, service charges for insurance declined slightly in February (—0.4%; +1.6% year-on-year) owing to promotions in vehicle insurance.

New increase in food prices

After a slight increase in January (+0.1%) food prices rose again in February 2015 (+0.2%; +0.1% year-on-year), as prices of fresh foodstuffs continued to rise (+1.3% after +0.9% in January 2015; +3.9% year-on-year). Mainly because of less favourable weather conditions than last year, prices of fresh vegetables were particularly dynamic (+9.1% year-on-year). However, prices of fresh fruits were just above those of last year in February (+0.3% year-on-year). Excluding fresh products, food prices were stable and declined by 0.5% year-on-year, as during the previous month.

Slight increase in core inflation month-on-month

Core inflation indicator (ISJ) rose by 0.2% in February 2015, after two consecutive months of stability. Year-on-year, it grew by 0.1%. The harmonized Index of Consumer Prices (HICP) increased by 0.7% in February but declined by 0.3% year-on-year (after —0.4% in January).

Informations Rapides

n° 56 - March 12, 2015

Consumer price index - February 2015

Next issue June 12, 2009 08:45 - May 2009

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