14 January 2014

2014 - n° 10

Consumer prices increased by 0.9% in average from 2012 to 2013Price Index – Annual average rates of change - 2013

The annual average rate of change of the consumer price index (CPI) decreased in 2013 to +0.9% after +2.0% in 2012. Excluding tobacco prices, the annual average rate of the CPI was a little lower (+0.7% between 2012 and 2013 after +1.9% between 2011 and 2012).

Except the tobacco prices which has sped up in 2013 (+6.8% between 2012 and 2013 after +6.2% between 2011 and 2012), the prices of the major consumption items slowed down or continued to decline in 2013.

The food prices grew less in 2013 (+1.4%) than in 2012 (+3.0%). The fresh foodstuff prices remained dynamic (+4.4% in 2012 after +5.2% in 2012), mainly because of a high increase in fresh fruit prices (+6.7% in 2013 after +4.3% in 2012) due to adverse weather conditions that have reduced supply during the year. Excluding fresh foodstuffs, the growth of food prices was lower in 2013 (+0.9%) than in 2012 (+2.7%). The meat prices remained strong (+2.8% in 2013 after +3.0% in 2012), as well as, in a lesser extent, those of alcoholic beverages (+3.2% in 2013 after +4.0% in 2012) owing to excise duty increases on these particular products.

The Energy prices have also slowed down strongly in 2013, their annual rate of change fell to +0.8% in 2013, down from +5.2% in 2012. The largest contributions to the fall in the annual rate came from petroleum products which prices went down by 2.3% in 2013 after +5.8% in 2012 and +15.8% in 2013. Overall, the decline in heating fuel was stronger (—3.1% after +9,6% in 2012) than for motor fuels (—2.5 % after +4.9% in 2012). Furthermore, if domestic gas prices moderated in 2013 ( +3.9% after +7.1% in 2012), on the opposite those of electricity prices have strongly sped up in 2013 (+6.5% after +3.1% in 2012).

In 2013, the service prices connected with dwellings (item 4010E: actual rentals and services for dwellings) have slightly slowed down (+1.8% after +2.0% in 2012). Overall, the actual rentals increased at the same pace in 2013 than in 2012 (+1.6%). Excluding energy, the prices of the other services connected with dwellings slowed down (+2.1% in 2013 for the maintenance and repair of the dwellings, down from +4.0% in 2012; +1.8% in 2013 after +3.6% in 2012 for the water supply and the miscellaneous services relating to the dwelling in 2013). On the other hand, the rates of the dwelling insurances have sped up in 2013 (+6.4 % after +3,3 % in 2012).

The decrease of the Health prices has continued in 2013 (—1.1% in average after —0.7% between 2011 and 2012) as a consequence of a new drop in medical product and medical appliances and equipment which prices fell by 3.4% in 2013 after —2.5% in 2012. More-over, the rise of the medical service prices remained moderate in 2013 (+0.8% after +0.9% in 2012). Doctor fees were almost stable in 2013 (+0.1% after +0.5% in 2012) while the prices of paramedical services accelerated slightly in 2013 (+1.6% after +1.2% in 2012) because of the revaluation for some services at the end of 2012 and at the beginning of 2013. Finally, the charges for health insurance have significantly slowed down in 2013 (+1.4% after +5.4% in 2012).

The jump in the telecommunication service prices has pursued in 2013 (—10.4% after —9.5% in 2012). As in 2012, this drop in the service prices is accompanied by a new fall in the prices of the telephone and fax equipments (—12.6% between 2012 and 2013, after —10.8% between 2011 and 2012 and —12.7% in 2011).

After a rebound in 2012 (+2.2%), the clothing and footwear prices increased less in 2013 (+0,9%). Overall, the prices of the other manufactured goods remained almost stable in 2013 (+0.1% after +1.1% in 2012). However, they showed relatively divergent changes. Thus, the drops in the prices of the audiovisual, photographic and information processing equipments continued in 2013 at a high pace (—7.5% after —7.1% in 2012). In particular, the fall in the prices of photographic and cinematographic equipments was again substantial in 2013 (—16.1% after —14.4% in 2012) as well as for the television sets (—10.2% in 2013 up from —15.0% in 2012) and for the Information processing equipments, including computers (—7.9% after —4.8% in 2012). It was the same, but in a lesser extent, for the prices of the major household appliances which continued to decline in 2013 (—2.9% after —2,2% in 2012). Finally, after two years of strong increases, as a consequence of the high level of gold prices, those of the jewels, clocks and watchs slowed down (+2.1% in 2013 down from +9.2% in 2012 and +13.5% in 2011).

The prices of the other services were a little less dynamic in 2013 (+2.1%, down from +2.7% in 2012.) due to the downturn in the prices of restaurants and hotels (+2.2% in 2013 after +2.8% in 2012), more marked for the accomodation services (+1.6% in 2013 after +3.1% in 2012) than for catering services (+2.2% down from +2.8% in 2012). The prices of the transport services have also clearly decelerated in 2012 (+0.9% after +2.0% in 2012) due to a declline in airfares (—0.7% in 2013).