13 September 2011

2011- n° 220

In August 2011, the consumer price index increased:+0.5% Consumer price index - final results - August 2011

In August 2011, the consumer price index (CPI) increased by 0.5%, after a decrease by 0.4% in July. The year-on-year change was +2.2% in August.

The price index without tobacco increased also by 0.5% in August 2011 (+2.2% year-on-year).

Adjusted from seasonal variations, the monthly change increased by 0.4% (+2.2% year-on-year).

The growth of CPI of August resulted mainly from the increase of prices of manufactured products at the end of summer sales. It reflected also the growth, also seasonal, of prices of services linked with tourism. At last, prices of energy products were rising together because of the growth of electricity rates and also of the slightly increase of oil products. Those rises were reduced by the seasonal decrease of fresh products and by the decline, in August traditional, of prices of health services.

In August 2011, prices of manufactured products increased by 1.6% (+1.0% in August 2010; —0.2% year-on-year). Prices of footwear and clothes rose by 9.8% (+6.0% in August 2010; —1.6% year-on-year).

Prices of food products went down slightly in August 2011 (—0.2%; +2.9% year-on-year). This weakness is essentially attributable to the seasonal decline of prices of fresh products (—3.6%; +0.4% year-on-year): —5.9% for fresh fruits (+3.0% year-on-year) and —3.3% for fresh vegetables (—3.4% year-on-year). Prices of food products except fresh products were increasing by 0.4% in August (+3.3% year-on-year), after a rise by 0.5% in July.

For seasonal reasons, prices of services increased in August 2011 (+0.1%; +1.8% year-on-year; +0.2% in August 2010).

In August 2011, prices of energy products were growing (+0.4%), after a steadiness in July. Year-on-year, they were increasing by 11.9%. In August 2011, the electricity rates increased (+1.4%; +7.7% year-on-year) and prices of oil products rose slightly (+0.1%; +15.5% year-on-year).

Core-inflation (ISJ) was rising in August 2011 (+0.4%). Year-on-year, the core-inflation indicator was increasing by 1.2% in August 2011.

The harmonised consumer price index (HCPI) went up by 0.6% (+2.4% year-on-year).