The Consumer Prices Index increased by 0.6% in February 2014; it rose by 0.9%, year-on-yearConsumer price index - final results - February 2014

The Consumer Prices Index (CPI) increased by 0.6% in February 2014, after a decline by 0.6% in January 2014. Compared with February 2013, it grew by 0.9%, after +0.7% in the year to January 2014. Excluding tobacco, the CPI increased by 0.5% in February 2014 and by 0.8% year-on-year. Seasonally adjusted, it rose by 0.2% in February 2014. The rebound of the CPI in February came, mainly, from the end of winter sale and its impact on clothing and footwear prices, and in a lesser manner, on manufactured product prices. In january 2014, the effect of winter sales was slightly increased by the price collection schedule (see below). In February 2014, some upward pressures on the change in the CPI came also from seasonal upturns in service prices linked with winter holidays while the prices of energy and food stayed little dynamic.

Informations rapides
No 58
Paru le : 13/03/2014
Prochaine parution le : 14/12/2017 at 08:45 - November 2017

Monthly change: +0.6%; Year-on-year: +0.9%

The Consumer Prices Index (CPI) increased by 0.6% in February 2014, after a decline by 0.6% in January 2014. Compared with February 2013, it grew by 0.9%, after +0.7% in the year to January 2014. Excluding tobacco, the CPI increased by 0.5% in February 2014 and by 0.8% year-on-year. Seasonally adjusted, it rose by 0.2% in February 2014. The rebound of the CPI in February came, mainly, from the end of winter sale and its impact on clothing and footwear prices, and in a lesser manner, on manufactured product prices. In january 2014, the effect of winter sales was slightly increased by the price collection schedule (see below). In February 2014, some upward pressures on the change in the CPI came also from seasonal upturns in service prices linked with winter holidays while the prices of energy and food stayed little dynamic.

Manufactured product prices bounced in February at the end of winter sales

In February 2014, manufactured goods prices bounced as a consequence of the end of winter sales; they increased by 1.3% compared with January 2014 and almost stabilized year-on-year (-0.1%). Thus, the prices of clothing and footwear increased by 6.2% in February 2014 catching up partly their drop in January (-15.4%). It was the same but in a lesser manner for other manufactured product prices which were up 0.6% in February 2014 after a price cut of 0.5% in January 2014. Especially, the prices of furniture and furnishing increased by 1.9% in February 2014 (after a fall of 2.5% in January) and by 2.1% year-on-year; those of Jewellery, clocks and watche by 1.5% (after -2.9% in January; -1.9% year-on-year) and those of major household appliances rose by +0.8% (after -2.2% in January; - 2.3% year on year). Moreover, the decline in the prices of health products continued in February; they decreased by -0.1% (-2.6% year-on-year).

OLE_LINK2 – Detailed figures for various groups

base 100 : année 1998
Detailed figures for various groups
Percentage change
Items Weight 2014 Index Feb. 2014 Month rate Annual rate
a) All households - France
All items (00 E) 10000 127.63 0.6 0.9
All items SA (00 C) 10000 127.94 0.2 0.9
Food (4000 E) 1653 131.97 -0.1 0.1
Fresh food (4001 E) 210 137.53 -0.9 -1.2
Food excluding fresh products (4002 E) 1443 131.16 0.0 0.3
Tobacco (4034 E) 204 258.55 1.3 7
MANUFACTURED PRODUCTS (4003 E) 2653 99.86 1.3 -0.1
Clothing and footwear (4004 E) 438 100.82 6.2 2.5
Medical products (4005 E) 434 79.52 -0.1 -2.6
Other manufactured products (4006 E) 1781 104.60 0.6 -0.1
ENERGY (4007 E) 850 180.14 0.1 -1.2
Petroleum products (4008 E) 475 204.02 0.1 -5.4
SERVICES (4009 E) 4640 135.34 0.4 1.9
Actual rentals and services for dwellings (4010 E) 748 142.09 0.4 1.6
Medical services (4011 E) 552 121.94 0.0 0.1
Transport and communication services (4012 E) 503 95.71 0.2 2.6
Other services (4013 E) 2837 145.71 0.6 2.2
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9202 125.06 0.5 0.8
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9796 125.71 0.5 0.8
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9707 125.5 0.5 0.8
ALL ITEMS (00 D) 10000 128.3 0.5 1.0
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9679 126.79 0.5 0.8
  • Source : Insee - Consumer Price Indexes

Tableau1English – Detailed figures for Core inflation* and HICP**

Detailed figures for Core inflation* and HICP**
Percentage change
Items Weight 2014 Index Feb. 2014 Month rate Annual rate
All items "Core inflation" (4022 S) 6053 122.61 0.5 0.7
Food excluding fresh products, meat, milk and exotic products (4019 S) 713 126.02 0.0 -0.2
Manufactured products (4020 S) 2162 105.35 1.4 0.0
Services including actual rentals and services for dwellings (4021 S) 3178 138.65 0.0 1.4
All items HICP (00 H) 115.33 0.6 1.1
  • * 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 Indixes 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

Graphique1English – Consumer price index (IPC) and Core inflation (ISJ) – year-on-year changes

  • Source : Insee - Consumer Price Indexes

Service prices sped up in February

Overall, prices of services increased by 0.4% in February 2014 (+1.9% year-on-year after +1.7% in the year to January 2014) mainly owing to the changes in some service prices linked with winter holidays. Thus, in February 2014, the prices of holiday accomodation services bounced (+16.2% ; +1.9% year-on-year). The prices of package holidays grew also in February 2014 but have less contributed to the growth of the CPI in February this year than last year, increasing only by 3.3% (-3.0% year-on year) in February 2014 after

+6.5% in February 2013. Moreover, the mobile phone service prices remained almost stable in February 2014 (-0.1%) but have sped up year-on-year (+2.9% after +0.1% in January 2014); they dropped by 2.8% in February 2013. Finally, the tariffs of motor insurances increased in February 2014 (+3.2% after -2.5% in January 2014; -4.2% compared with the same month one year ago) due to the end of promotions.

Energy prices almost flat

In February 2014, the prices of energy stayed almost stable (+0.1% after +0.8% in January 2014; -1.2% year-on-year) in conjunction with the relative stability of petroleum product prices during last months (+0.1% in February 2014 after -0.2% in January; -5.4% year-on-year). In February 2014, city gas prices grew by 0.3% (after +0.8% in January; +0.5% year-on-year) while those of electricity remained unchanged (+7.5% year-on-year).

Slight decline in food prices

Food prices decreased by 0.1% in February 2014 (as in January 2014; +0.1% year-on-year) as a consequence of a drop in the fresh foodstuff prices (-0.9%; -1.2% year-on-year), especially those of fresh vegetables which fell by -3.4% in February (-1.9% year-on-year) in the wake of a large supply supported by mild temperatures. At the same time, the seasonal increase in the prices of fresh fruits was less pronounced this year (+1.7% in February 2014; -2.9% year-on-year) than last year (+2.7% in February 2013). Excluding fresh foodstuffs, the food prices remained stable in February 2014 (+0.3% year-on-year) after a slight increase in January 2014 (+0.1%). Only alcoholic beverage prices remained relatively dynamic in February 2014 (+0.3%; +2.3% year-on-year).

The core inflation indicator rebounded in February

In February 2014, the core inflation indicator (ISJ) grew 0.5% after a decrease by 0.4% in January 2014. After an unusually low level in January, its annual rate of change came back to a level near from December 2013 (+0.7%). The Harmonized Index of Consumer Prices (HICP) increased by 0.6% in February 2014 and by 1.1 % year-on-year (after +0.8% year-on-year in January 2014 and +1.2% in February 2013).

Documentation

Methodology (pdf, 141 Ko)