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The Consumer Prices Index increased in August 2014 by 0.4% ; it rose by 0.4%, year-on-year

Prices index – August 2014

Monthly change: +0.4%; Year-on-year: +0.4%

The Consumer Prices Index (CPI) increased by 0.4% in August 2014 after a decline by 0.3% in July 2014. Seasonally adjusted, it was up 0.1%. The CPI grew by 0.4% in the year to August 2014, down from +0.5% in July 2014.

The steepest consumer price increases in August 2014 came mainly from seasonal rises in some services related to tourism in the middle of the summer and in manufactured product prices at the end of the summer sales in metropolitan France. For these ones, the effect was stronger this year due to a time lag of the price collection that included a fewer number of days during the summer sales in August 2014 (2 days) than last year (7 days in August 2013, for 20 days of data collection for a given month). These price increases were partially offset by a seasonal fall of food prices and a decrease in energy prices.

Manufactured product prices increased at the end of summer sales

Prices of manufactured products increased by 1.9% in August 2014 compared to July 2014 but declined by 0.5% compared to August 2013. After the end of the summer sales, prices of clothing and footwear increased by 10.6% (+1.6% year-on-year) after a fall of 13.4% in July 2014. This seasonal rebound has been intensified this year by a time lag in the price collection calendar. Some price increases due to the end of the summer sales were also observed for household textiles (+3.0%; —0.3% year-on-year), jewellery, clocks and watches (+2.5%; —1.2% year-on-year), glassware, tableware and household utensils (+1.0%; —0.8% year-on-year), furniture and furnishings (+1.5%; —0.2% year-on-year), household appliances (+1.4%; —1.5% year-on-year) and also for beauty products (+1.1%; —0.7% year-on-year).

Detailed figures for various groups
base 100 : année 1998
Source : Insee - Consumer Price Indexes
Percentage change
Items Weight 2014 Index Aug. 2014 Month rate Annual rate
a) All households - France
All items (00 E) 10000 128.29 0.4 0.4
All items SA (00 C) 10000 128.17 0.1 0.4
Food (4000 E) 1653 130.75 -0.5 -1.5
Fresh food (4001 E) 210 129.39 -4.6 -8.9
Food excluding fresh products (4002 E) 1443 130.87 0.0 -0.4
Tobacco (4034 E) 204 258.62 0.0 3.5
MANUFACTURED PRODUCTS (4003 E) 2653 99.58 1.9 -0.5
Clothing and footwear (4004 E) 438 105.53 10.6 1.6
Medical products (4005 E) 434 78.18 0.0 -2.9
Other manufactured products (4006 E) 1781 103.50 0.4 -0.5
ENERGY (4007 E) 850 177.21 -0.8 -1.5
Petroleum products (4008 E) 475 200.40 -1.1 -3.3
SERVICES (4009 E) 4640 137.90 0.3 1.9
Actual rentals and services for dwellings (4010 E) 748 141.67 0.1 1.4
Medical services (4011 E) 552 121.89 -0.7 0.4
Transport and communication (4012 E) 503 99.39 0.6 2.1
Other services (4013 E) 2837 149.36 0.5 2.2
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9202 125.74 0.5 0.3
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9796 126.38 0.5 0.4
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9707 126.16 0.4 0.3
ALL ITEMS (00 D) 10000 128.95 0.4 0.4
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9679 127.58 0.4 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 Union. This index is calculated for all households in France (base 100 2005).
Source : Insee - Consumer Price Indexes
Percentage change
Items Weight 2014 Index Aug. 2014 Month rate Annual rate
All items "Core inflation" (4022 S) 6053 122.86 0.3 0.4
Food excluding fresh products, meat, milk and exotic products (4019 S) 713 124.60 -0.1 -1.1
Manufactured products (4020 S) 2162 104.59 0.6 -0.6
Services including actual rentals and services for dwellings (4021 S) 3178 140.19 0.3 1.3
All items HICP (00 H) 115.97 0.5 0.5

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

Seasonal rebound in the price of services

In August 2014, service prices rose by 0.3% (+1.9% year-on-year), mainly as a result of the seasonal increase in the prices of holiday accomodation services (+12.9%; +3.6% year-on-year) and in the prices of package holidays (+8.2%; +1.6% year-on-year). Moreover, airfares went up in August 2014 (+1.9%; +1.1% year-on-year). Conversely, as every year in August, the tariffs of hotels and boarding houses (—1.6%; +1.8% year-on-year) as well as those of toll facilities and parking meters (—0.6%; +2.1% year-on-year) decreased, consequence of free car parking in several big cities.

Seasonal decrease in food prices

In August 2014, food prices decreased by 0.5%, as in July 2014 (1.5% year-on-year) as a result of the seasonal drop in the prices of unprocessed products (—4.6%; —8.9% year-on-year), especially those of fresh fruits (—7.0%; —13.0% year-on-year) and those of fresh vegetables (—4.5%; —9.4% year-on-year) while those of fresh fishes and seafood increased sharply (+1.6%; +3.3% year-on-year). Excluding unprocessed products, food prices remained broadly stable in August 2014 (—0.4% year-on-year). This relative stability hid contrasted developments considering the different consumption sectors. Thus, the prices of meat were still rising but have slowed down.

Decline in energy prices

Energy prices decreased by 0.8% in August 2014 compared to July 2014 and by 1.5% compared to August 2013. The largest downward pressures came from a further reduction in city gas prices (—1.2% in August 2014 after —0.4% in July 2014; —3.1% year-on-year) and from a drop of the petroleum product prices (—1.1%; —3.3% year-on-year). The fall in prices was stronger for motor fuels (—1.3%; —3.3% year-on-year) than for heating fuel (—0.8%; —4.4% year-on-year). Furthermore, the prices of electricity remained steady in August 2014 (+2.7% year-on-year) while they had grown by 4.0% in August 2013.

Core inflation increased in August 2014

In August 2014, the core inflation indicator (ISJ) increased by 0.3% compared to July 2014 and by 0.4% compared to August 2014, up from July 2014 (+0.1% year-on-year). This acceleration came, mainly, from the lower number of days of prices collection during the summer sales in August this year compared to the same month last year. The Harmonized Index of Consumer Prices (HICP) increased by 0.5% in August 2014; its annual rate of change stood at +0.5% in August 2014, down from +0.6% in June and July 2014.

Informations Rapides

n° 208 - September 11, 2014

Consumer price index - August 2014

Next issue October 14, 2014 08:45 - September 2014

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