In January 2012, the consumer price index decreased by 0.4%; year-on-year, it rose by 2.3%Consumer price index - final results - January 2012

In January 2012, the consumer price index (CPI) decreased by 0.4%, after a rose by 0.4% in December. The year-on-year change was +2.3% in January. The price index without tobacco decreased also by 0.4% in January 2012 (+2.3% year-on-year).

Informations rapides
No 50
Paru le : 22/02/2012
Prochaine parution le : 12/10/2017 at 08:45 - September 2017

Monthly change: —0.4%; year–on–year: +2.3%

In January 2012, the consumer price index (CPI) decreased by 0.4%, after a rose by 0.4% in December. The year-on-year change was +2.3% in January. The price index without tobacco decreased also by 0.4% in January 2012 (+2.3% year-on-year).

Adjusted from seasonal variations, the monthly change increased by 0.2% (+2.4% year-on-year).

The decline of CPI of January resulted mostly from the decrease of prices of manufactured products, due to winter sales. This decline was lightened by the important growth of energy prices. Prices of services were steady, rates increases made up for one another by decreases in services linked with tourism.

Decrease of prices of manufactured products

In January 2012, prices of manufactured products decreased (—1.9%; +0.6% year-on-year). Due to winter sales, prices of clothes and footwear went down, in a accentuate way as the year before (—10.9%; —7.9% in January 2011; —0.3% year-on-year). Unlike this, the new scales for the calculation of ecological “bonus / malus” for the year 2012 and the end of sales were contribuating to the growth of prices of new cars (+1.2%; +3.0.% year-on-year).

Rise in energy prices

In January 2012, prices of energy were rising (+2.4%; +7.9% year-on-year). This change was the consequence, on the one hand, of the increase of rates of town gas (+4.3%; +9.5% year-on-year) and, on the other hand, of gain of prices of fuel products (+3.0%; +9.8 % year-on-year), in the wake of the growth of fuel products rates.

Graphique1 – Consumer price index (IPC) and Core inflation (ISJ) – year-on-year changes

  • Source : Insee - indices des prix à la consommation

Prices of services were steady

In January 2012, prices of services were steady (+1.9% year-on-year), increases and decreases made up for one another.

Prices of food products went up slightly in January 2012 (+0.1%; +3.5% year-on-year). For espiecally seasonal reasons, prices of fresh products went down (—1.6%; —1.9% in January 2011; —1.4% year-on-year). Prices of food products except fresh products were growing moderately (+0.3%; +4.3% year-on-year).

Core-inflation (ISJ) decreased slightly in January 2012 (—0.1%; +1.5% year-on-year).

The harmonised consumer price index (HCPI) went down by 0.4% (+2.6% year-on-year).

Documentation

Methodology (pdf, 141 Ko)