15 March 2011

2011- n° 65

In February 2011, increase of the consumer price index: +0.5% Consumer price index - final results - February 2011

In February 2011, the consumer price index (CPI) increased by 0.5%, after a weakness by 0.2% in January. The year-on-year change was 1.7% in February (+1.8% in January).

The price index without tobacco increased also by 0.5% in February (+1.6% year-on-year).

Adjusted from seasonal variations, the monthly change went up by 0.1% (+1.7% year-on-year).

This growth of prices in February came mainly from the increase of prices of energy products and from the rise of prices of services, due to seasonal or taxes raising, while prices of manufactured products were steady.

In February 2011, energy prices rose once again (+1.1%, after +3.7% in January; +15.0% year-on-year), in the wake of the increase of prices of oil products.

Prices of services grew strongly in February 2011 (+0.7%; +1.6% year-on-year), due to seasonal increases linked with the winter school holidays and taxes raising.

Prices of food products went up (+0.3%) in February 2011 (+0.3% year-on-year). Prices of fresh products rose once again in February (+1.3%; +1.3% year-on-year), after a decrease in January: +3.7% for prices of fresh fruits (+5.5% year-on-year) and +0.5% for fresh vegetables (—4.3% year-on-year). Prices of food products except fresh products were increasing slightly (+0.1%; +0.2% year-on-year).

In February 2011, prices of manufactured products were steady (—0.9% year-on-year). Prices of clothing and footwear went down by 2.0% (—5.1% year-on-year). In February 2010, they were growing up by 5.8%. In 2011, sales were later and discounts allowed were higher, particularly at the end of the sales period.

Core-inflation (ISJ) was slightly increasing in February 2011 (+0.1%; +0.4% year-on-year). Core-inflation for the manufactured products was decreasing by 0.4% (—0.7% year-on-year), because of the lag of the sales calendar. The harmonised consumer price index (HCPI) went up by 0.5% (+1.8% year-on-year).