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Consumer prices diminished by 0.1% in June 2015; they increased by 0.3% year-on-year

Prices index – June 2015

Monthly change: -0.1%; Year-on-year: +0.3%

After increasing two months in a row, the Consumer Price Index (CPI) declined slightly in June 2015 (-0.1%). Year-on-year, it rose by 0.3%, as in May 2015.

In June, prices of manufactured products, especially clothing and footwear, decreased seasonally with the start of summer sales. Moreover, prices of petroleum products and food also went down. These decreases were not totally offset by the seasonal increase in prices of some services related to tourism with the upcoming summer season.

Decrease in prices of manufactured products

In June 2015, prices of manufactured products decreased by 0.4% (as in June 204; -0.7% year-on-year) mainly due to the beginning of summer sales. Their impact was especially strong for clothing and footwear (-2.0%; -0.5% year-on-year) as well as for household textiles (-1.6%; +0.6% year-on-year) and for travel goods and other carriers of personal effects (-0.7%; stable compared with June 2014). For the other manufactured products, summer sales had a more moderate effect: prices of furniture and furnishings were sligtly down (-0.1% in june ; +0.3% year-on-year), those of audio-visual, photographic and information processing equipments stayed stable (-4.0% year-on-year after -4.6% in May) while those of household aplliances rose slightly (+0.1%; -1.5% year-on-year). Furthermore, health product prices continued to decline (-0.7%; -3.5% year-on-year). On the contrary, prices of new cars were up (+0.9% in June; +2.1% year-on-year).

Detailed figures for various groups
base 100 : année 1998
Source: INSEE - Consumer Price Indexes
Items Weight Index Percentage change
2015 June 2015 m-on-m change y-on-y change
a) All households - France
All items (00 E) 10000 128.47 -0.1 0.3
All items SA (00 C) 10000 128.18 -0.1 0.3
Food (4000 E) 1662 132.65 -0.2 0.4
Fresh food (4001 E) 211 147.95 -2.0 5.2
Food excluding fresh products (4002 E) 1451 130.52 0.0 -0.3
Tobacco (4034 E) 199 259.28 0.0 0.3
MANUFACTURED PRODUCTS (4003 E) 2584 99.96 -0.4 -0.7
Clothing and footwear (4004 E) 437 109.66 -2.0 -0.5
Medical products (4005 E) 427 75.64 -0.7 -3.5
Other manufactured products (4006 E) 1720 103.95 0.0 0.0
ENERGY (4007 E) 815 173.50 -0.5 -2.8
Petroleum products (4008 E) 418 187.64 -0.8 -7.3
SERVICES (4009 E) 4740 137.82 0.2 1.3
Actual rentals and services for dwellings (4010 E) 767 142.82 0.1 1.0
Medical services (4011 E) 568 123.02 0.0 0.5
Transport and communication services (4012 E) 510 97.75 0.7 1.5
Other services (4013 E) 2895 149.08 0.2 1.5
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9192 125.88 -0.1 0.2
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9801 126.55 -0.1 0.3
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9714 126.32 -0.1 0.3
ALL ITEMS (00 D) 10000 129.13 -0.1 0.3
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9687 127.58 -0.1 0.2
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 : Harmonized 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 Weight Index Percentage change
2015 June 2015 m-on-m change y-on-y change
All items "Core inflation" (4022 S) 6042 123.17 0.0 0.6
Food excluding fresh products, meat, milk and exotic products (4019 S) 715 124.69 0.0 -0.3
Manufactured products (4020 S) 2103 104.34 -0.2 -0.2
Services including actual rentals and services for dwellings (4021 S) 3224 141.17 0.1 1.4
All items HICP (00 H) 116.24 -0.1 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

Energy prices fell back

In June 2015, energy prices decreased again after four consecutive months of increase (-0.5% compared with may; -2.8% year-on-year). In the wake of declining crude oil prices, petroleum product prices diminished (-0.8% month-on-month; -7.3% year-on-year).

The decline in motor fuels (-0.6%; -6.3% year-on-year) was less marked than for heating fuels (-1.7%; -13.0% year-on-year). Town gas prices were down again, albeit more moderatly (-0.5% month-on-month after -1.1%; -0.8% year-on-year). Those of electricity were stable (+4.3% year-on-year).

Seasonal decrease in food prices

In June 2015, food prices decreased slightly (-0.2%; +0.4% year-on-year) due to the seasonal decline in prices of fresh foodstuffs (-2.0%; +5.2% year-on-year), in particular those of fresh vegetables (-3.5%; +5.3% year-on-year) and fresh fish and seafood (-3.1%; +4.3% year-on-year). However, prices of fresh fruits were virtually stable (-0.1%; +5.5% year-on-year). Excluding unprocessed products, food prices remained overall stable (-0.3% year-on-year).

Service prices rose seasonally

In June 2015, service prices grew again (+0.2% after +0.1% in May) mainly due to seasonal variations with the upcoming summer season. Thus, prices of accomodation services increased significantly (+5.7%; +2.7% year-on-year) as did holiday rentals (+2.4%; +0.9% year-on-year). As well, airfares bounced back in June (+1.5% after -2.8%; -1.9% year-on-year). However, but also in a seasonal manner, prices of package holidays fell largely between spring and summer holidays (-8.2% in June 2015; +0.1% year-on-year). Furthermore, telecommunicaton prices were up (+1.3% in June; +2.2% compared with the same month one year ago). All in all, service prices rose by 1.3% year-on-year, as in May 2015.

Core inflation remained stable

In June 2015, the core inflation indicator (ISJ) was unchanged (after +0.2% in May). Year-on-year, it rose by 0.6%, as in May. The Harmonized Index of Consumer Prices (HICP) was down 0.1% in June 2015; year-on-year, it grew by 0.3%, as during the previous month.

Informations Rapides

n° 168 - July 15, 2015

Consumer price index - June 2015

Next issue August 13, 2015 08:45 - July 2015

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