The Consumer Prices Index stabilised in April 2014; it rose by 0.7%, year-on-yearConsumer price index - final results - April 2014

In April 2014, the Consumer Prices Index (CPI) stabilised after an increase of 0.4% in March 2014. Compared with April 2014, it grew by 0.7% (up from +0.6% in March). Excluding tobacco, the CPI also stabilised in April 2014 and rose by 0.6% year-on-year. Seasonally adjusted, the CPI went down by 0.2% in April 2014. The relative stability of the CPI in April 2014 masked some constrasting evolutions in price evolutions of the different categories of services and manufactured products which cancelled out each other. Moreover, energy prices and those of food products decreased slightly in April 2014 in the wake of a new decline of petroleum product prices and a large drop in the prices of unprocessed food.

Informations rapides
No 109
Paru le : 14/05/2014
Prochaine parution le : 12/10/2017 at 08:45 - September 2017

Monthly change: 0.0%; Year-on-year: +0.7%

In April 2014, the Consumer Prices Index (CPI) stabilised after an increase of 0.4% in March 2014. Compared with April 2014, it grew by 0.7% (up from +0.6% in March). Excluding tobacco, the CPI also stabilised in April 2014 and rose by 0.6% year-on-year. Seasonally adjusted, the CPI went down by 0.2% in April 2014. The relative stability of the CPI in April 2014 masked some constrasting evolutions in price evolutions of the different categories of services and manufactured products which cancelled out each other. Moreover, energy prices and those of food products decreased slightly in April 2014 in the wake of a new decline of petroleum product prices and a large drop in the prices of unprocessed food.

The prices of manufactured products stabilised

The prices of manufactured goods stayed broadly unchanged in April 2014 (—0.7% year-on-year). The prices of health products continued their decline (—0.5% in April 2014; —2.3% year on year) in the context of the saving measures of the national health insurance expenditure target for 2014 (ONDAM). This decrease was offset by the seasonal rebound in the prices of clothing and footwear (+0.6%; +0.6% year-on-year) due to the release of the summer collections. This rebound was higher for shoes (+1.6%; +1.4% year-on-year) than for clothes (+0.5%; +0.4% year-on-year). On the other hand, the prices of the other manufactured goods remained little dynamic. Stable in April 2014, they were down 0.6% compared with the same month one year ago. In particular, the declines in the prices of household appliances (—0.9%, and —2.5% year-on-year), of audio-visual, photographic and information processing equipments (—0.7%, —7.3% year-on-year) as well as those of telephone equipements (—1.4%; —15.3% year-on-year) continued in April 2014.

OLE_LINK2 – Detailed figures for various groups

base 100 : année 1998
Detailed figures for various groups
Percentage change
Items Weight 2014 Index April 2014 Month rate Annual rate
a) All households - France
All items (00 E) 10000 128.15 0.0 0.7
All items SA (00 C) 10000 127.61 -0.2 0.7
Food (4000 E) 1653 132.02 -0.2 -0.6
Fresh food (4001 E) 210 137.79 -1.0 -6.2
Food excluding fresh products (4002 E) 1443 131.18 0.0 0.3
Tobacco (4034 E) 204 258.56 0.0 6.9
MANUFACTURED PRODUCTS (4003 E) 2653 101.2 0.0 -0.7
Clothing and footwear (4004 E) 438 111.78 0.6 0.6
Medical products (4005 E) 434 78.8 -0.5 -2.3
Other manufactured products (4006 E) 1781 104.35 0.0 -0.6
ENERGY (4007 E) 850 178.72 -0.2 -0.7
Petroleum products (4008 E) 475 201.6 -0.4 -4.7
SERVICES (4009 E) 4640 135.69 0.0 2.0
Actual rentals and services for dwellings (4010 E) 748 142.22 0.0 1.5
Medical services (4011 E) 552 122.35 0.2 0.2
Transport and communication services (4012 E) 503 96.46 1.3 3.0
Other services (4013 E) 2837 146.01 -0.3 2.3
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9202 125.61 0.0 0.6
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9796 126.24 0.0 0.6
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9707 126.04 0.0 0.6
ALL ITEMS (00 D) 10000 128.83 0.0 0.8
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9679 127.38 0.0 0.6
  • 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 April 2014 Month rate Annual rate
All items "Core inflation" (4022 S) 6053 122.44 -0.2 0.5
Food excluding fresh products, meat, milk and exotic products (4019 S) 713 125.61 -0.3 -0.6
Manufactured products (4020 S) 2162 105.13 0.0 -0.7
Services including actual rentals and services for dwellings (4021 S) 3178 138.82 -0.2 1.5
All items HICP (00 H) 115.89 0.0 0.8
  • * ISJ : Core inflation indicator excludes public sector prices, the most volatile consumer prices and the tax measures. Seasonally adjusted, this index is computed for all households in France excluding overseas departments (base 100 1998).
  • **HICP : Harmonised Indices of Consumer Prices are inflation figures required under the Treaty on the functioning of the European Union. They are designed for comparison of consumer price inflation between Member states of the Union. This index is calculated for all households in France (base 100 in 2005).
  • Source : Insee - Consumer Price Indexes

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

  • Source : Insee - Consumer Price Indexes

The prices of services broadly unchanged in April 2014

Service prices were roadly unchanged in April 2014 (+2.0% year-on-year). As every year, the prices of certain services related to tourism decreased seasonally in April (—7.7% and +1.8% year-on-year for accomodation services; —2.5% and +5.0% year-on-year for the package holidays). Moreover, the prices of telecommunication services fell again in April

2014 (—2.2%; +2.8% year-on-year down from +3.1% in March 2014). These decreases were offset by a significant recovery in the prices of transport services, especially those of airfares after several months of decline for these tariffs (+10.7% in April 2014 ; +3.3% year-on-year up from —5.0% in March 2014).

New decline in energy prices

In April 2014, ehergy prices went down by 0.2% and by 0.7% year-on-year due to a new decline in the prices of petroleum products (—0.4% in April 2014 after —0.8% in March ; —4.7% year-on-year). This decrease is higher for heating fuels (—1.1%; —6.6% year-on-year) than for motor fuels (—0.2% in April 2014 ; —4.5% year-on-year). However, city gas prices rose slightly in April 2014 (+0.3%; +0.6% year-on-year) as a consequense of the implementation of a new consumption tax for households (Taxe intérieure sur la Consommation de Gaz Naturel – TICGN). Stable in April 2014, electricity prices rose by 7.5% year-on-year in April 2014.

Food prices were down in the year to April 2014

In April 2014, food prices decreased by 0.2% (—0.6% year-on-year) due to the fall of unprocessed food prices (—1.0%; —6.2% year-on-year). The favourable weather conditions since the beginning of the year contributed to stimulate supply and to moderate the prices of fresh fruits (—2.6% in April 2014, —4.4% year-on-year) and fresh vegetables (+0.1% in April; —9.8% year-on-year). Excluding fresh foodstuffs, food prices remained broadly unchanged in April 2014, as in March 2014 (+0.3% year-on-year). Meat prices were stable in April 2014 while, for most food products, prices declined in April 2014. Only the prices of dairy products rose in April 2014 due the carry-over impact of pricing pressure on milk.

Core inflation remained moderate

In April 2014, the core inflation indicator (ISJ) decreased by 0.2% and was up 0.5% compared with the same month one year ago (up from 0.5% in March 2014 and in April 2013). The Harmonized Index of Consumer Prices (HICP) was stable in April 2014 and rose by 0.8% year-on-year (up from +0.7% in March 2014 and after +0.8% in April 2013).

Documentation

Methodology (pdf, 141 Ko)