14 August 2012

2012- n° 202

In July 2012, the consumer prices index decreased by 0.4; year-on-year, it rose by 1.9% Consumer price index - final results - July 2012

In July 2012, the consumer prices index (CPI) decreased by 0.4%, after being steady in June. The year-on-year change was +1.9%. The price index without tobacco was also decreasing by 0.4% (+1.9% year-on-year). In July 2012, price of tobacco was increasing by 0.1% (+5.7% year-on-year). Adjusted from seasonal variations, the monthly change went up by 0.1% (+2.0% year-on-year).

The weakness of July resulted mainly from the decrease of prices of clothing and footwear and other manufactured products, linked with summer sales and, from the seasonal decrease of prices of fresh products. Those decreases were partly counterbalanced by the seasonal increase of prices of services linked with tourism and by the rates increases resulting especially from the rise of the minimal wage (Smic).

In July 2012, prices of manufactured products were falling frankly (—2.7%; +0.9% year-on-year) especially because of summer sales. Prices of clothing and footwear were declining by 13.6% (+3.6% year-on-year).

In July 2012, for seasonal reasons, prices of services were increasing (+1.0%; +1.8% year-on-year).

Prices of food products went down in July 2012 (—0.6%; +2.7% year-on-year). This change resulted from the seasonal decrease of prices of fresh products (—5.3%; +6.6% year-on-year): prices of fresh fruits weakened by 7.9% (+7.9% year-on-year), those of fresh vegetables by 4.1% (+8.0% year-on-year). Prices of food products except fresh products were almost steady (+0.1%; +2.2% year-on-year).

In July 2012, prices of energy went up by 0.2% (+3.6% year-on-year). Rates of town gas increased on the 20^th. of July (+0.9% in July; +5.2% year-on-year) and those of electricity on the 23^rd. of July (+1.8% in July; +3.4% year-on-year). Prices of oil products went down slightly (—0.6%; +3.3% year-on-year).

Core-inflation (ISJ) was decreasing slightly in July 2012 (—0.2%; +1.5% year-on-year).

The Harmonised Index of Consumer Prices (HICP) went down by 0.5% (+2.2% year-on-year).