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In June 2016, consumer prices increased by 0.1% over a month and by 0.2% year-on-year

Prices index – June 2016

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

In June 2016, the Consumer Prices Index (CPI) rose by 0.1% over a month after +0.4% in May. Seasonally adjusted, it increased also by 0.1%. Year-on-year, the CPI increased by 0.2%, after a stability in May 2016.

This month-on-month increase in June came mainly from the strengthening of petroleum product prices for the fourth month in a row, and from the seasonal rebound in prices of some services at the edge of summer. It was partly offset by the seasonal decline in fresh food and manufactured product prices, with the beginning of summer sales.

Further strengthening in energy prices

In June 2016, energy prices rose as strongly as in the previous month (+2.2%). Year-on-year, they declined by 3.1% (-5.7% in the previous month). The increase over the month was due to petroleum product prices which were still up sharply (+4.0% after + 4.1% in May; -6.1% year-on-year), as a result of the recovery of crude oil prices since the beginning of the year. In detail, the heat fuel prices continued to rise at a fast pace (+5.9% % in June after +8.5%; -11.2% year-on-year). In comparison, the motor fuel price increases were more limited: diesel increased by 4.7% in June (after +4.4% in May; -4.7% year-on-year) and gasoline by 2.6% (after +2.4%; -6.2% year-on-year). Moreover, gas prices were stable in June (-10.0% year-on-year), like electricity fares (+4.1% year-on-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 June 2016 m-on-m change y-on-y change
a) All households
OverAll 10000 100.63 0.1 0.2
Overall SA* 10000 100.33 0.1 0.2
Food 1615 100.76 -0.6 0.6
Fresh food 217 105.31 -4.0 3.5
Other food 1398 100.05 0.0 0.1
Tobacco 195 100.09 0.0 0.0
Manufactured products 2651 100.23 -0.3 -0.5
Clothing and footwear 414 103.46 -1.7 0.5
Medical products 466 96.98 -0.1 -2.9
Other manufactured products 1771 100.24 0.0 -0.2
Energy 773 99.39 2.2 -3.1
Petroleum products 419 99.24 4.0 -6.1
Services 4766 101.06 0.3 1.0
Actual rentals and services for dwellings 768 100.59 0.0 1.0
Medical services 598 100.35 0.0 0.2
Transport 279 97.80 1.5 -2.1
Communication 245 102.64 0.2 1.7
Other services 2876 101.51 0.3 1.4
Total except rents and tobacco 9183 100.66 0.1 0.2
Total except tobacco 9805 100.64 0.1 0.2
b) Urban working-class households or households of employees
All products excluding tobacco 9704 100.62 0.1 0.2
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9696 100.40 0.1 0.0

Seasonal increase in service prices

In June 2016, service prices accelerated slightly (+0.3% after +0.1%), due to the seasonal price increase for some services before the summer holidays. Year-on-year, service prices expanded by 1.0% in June, as in May. Thus, prices of accommodation services increased almost like last year (+5.1%; +4.9% in June 2015). Similarly, airfares climbed (+4.9%); however they remained significantly lower than a year ago (-4.2%) in the wake of past falls in oil prices. By contrast, but also in a seasonal manner, prices of package holidays fell back in June (-2.1%).

Seasonal decrease in food prices

In June 2016, food prices weakened by 0.6% (+0.6% year-on-year) owing to the seasonal decline in fresh food prices (-4.0%). Excluding fresh foodstuffs, food prices were broadly stable as in the previous six months (+0.1% year-on-year).

Decline in manufactured products prices

In June 2016, manufactured products prices were down by 0.3% (-0.5% in June 2015; -0.5% year-on-year after -0.6% in the previous month) mainly due to the start of summer sales. Their impact is particularly visible in clothing and footwear (-1.7%; +0.5% over a year), in household textiles (-0.7%; +1.8% year-on-year) and personal effects (-0.8%; 1.9% year-on-year). For other manufactured products, the end of discounts offset the beginning of summer sales. Furniture and furnishings prices edged up (+0.2%) as those of household appliances (+0.1%). In addition, the increase in new cars prices was less pronounced this year in June (+0.5% against +0.9% in 2015; -1.0% year-on-year).

Core inflation was as moderate as in May

In June 2016, the core inflation indicator (ISJ) grew by 0.1% for the fourth month in a row. Year-on-year, it increased by 0.7%, as in May. The Harmonised Index of Consumer Prices (HICP) grew by 0.1% over one month and by 0.3% year-on-year (after +0.1% in May).

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 June 2016 m-on-m change y-on-y change
Core inflation - All items 6075 100.73 0.1 0.7
Food excluding fresh products, meat, milk and exotic products 735 99.98 0.0 0.0
Manufactured products 2136 100.06 -0.1 0.0
Services including actual rentals and services for dwellings 3204 101.36 0.2 1.3
HICP - All items 100.80 0.1 0.3

Revisions

Compared to the provisional estimates published on 30 June, the monthly and annual rates of change in the CPI are unchanged. The monthly rate of change in the HICP has been slightly lowered by 0.1 points, whereas its annual rate is unchanged. Furthermore, the HICP indices from January to May 2016 have been slightly revised (see explanatory note for details).

Informations Rapides

n° 182 - July 13, 2016

Consumer price index - final results - June 2016

Next issue August 11, 2016 08:45 - July 2016

For further information

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