Consumer prices rose by 0.3% in August 2015; they were stable year-on-yearConsumer price index - final results - August 2015

In August 2015, the Consumer Price Index (CPI) picked up (+0.3%) after a decrease by 0.4% in July. Seasonally adjusted, it fell back by 0.1% in August compared with July. Year-on-year, it remained stable, after a rise by 0.2% in July.

Informations rapides
No 221
Paru le : 15/09/2015
Prochaine parution le : 12/10/2017 at 08:45 - September 2017

Monthly change: +0.3%; Year-on-year: 0.0%

In August 2015, the Consumer Price Index (CPI) picked up (+0.3%) after a decrease by 0.4% in July. Seasonally adjusted, it fell back by 0.1% in August compared with July. Year-on-year, it remained stable, after a rise by 0.2% in July.

In August, the main contributors to the rise in the CPI came from seasonal increases in the manufactured product prices at the end of the summer sales in Metropolitan France and in some services related to tourism at the time of the summer holidays. Those rises were partially offset by a further decrease in prices of petroleum products and by the downturn, typical for the season, in prices of fresh foodstuffs.

Prices of manufactured products bounced back after the end of summer sales

Prices of manufactured products picked up after the end of 2015 summer sales. This rebound (+1.6%) was less pronounced than last year (+1.9% in August 2014) after prices had declined to a greater extent in July (-3.1%; -2.9% in July 2014). In particular, prices of clothing and footwear rose less in August this year (+9.8%) than last year (+10.6%) due to the introduction this year of an additional week of sales (at the beginning of August). Conversely, for the other manufactured products, especially furniture and furnishings and high-tech products, the effects of the additional week of sales were not noticeable, their prices having more increased this year in August. Furthermore, prices of new cars diminished due to manufacturer discounts. In addition, prices of medical products continued to fall (-0.2% in August; -3.8% year-on-year).

OLE_LINK2 – Detailed figures for various groups

1998 : 100
Detailed figures for various groups
Items Weight Index Percentage change
2015 Aug. 2015 m-on-m change y-on-y change
a) All households - France
All items (00 E) 10000 128.35 0.3 0.0
All items SA (00 C) 10000 128 -0.1 0.0
Food (4000 E) 1662 131.82 -0.1 0.8
Fresh food (4001 E) 211 139.68 -1.5 8.0
Food excluding fresh products (4002 E) 1451 130.7 0.1 -0.1
Tobacco (4034 E) 199 259.28 0.0 0.3
MANUFACTURED PRODUCTS (4003 E) 2584 98.44 1.6 -1.1
Clothing and footwear (4004 E) 437 103.04 9.8 -2.4
Medical products (4005 E) 427 75.21 -0.2 -3.8
Other manufactured products (4006 E) 1720 103.29 0.3 -0.2
ENERGY (4007 E) 815 168.2 -1.9 -5.1
Petroleum products (4008 E) 418 175.27 -4.8 -12.5
SERVICES (4009 E) 4740 139.71 0.2 1.3
Actual rentals and services for dwellings (4010 E) 767 143 0.1 0.9
Medical services (4011 E) 568 122.26 -0.4 0.3
Transport and communication services (4012 E) 510 100.88 -0.6 1.5
Other services (4013 E) 2895 151.71 0.5 1.6
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9192 125.75 0.3 0.0
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9801 126.43 0.3 0.0
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9714 126.27 0.3 0.1
ALL ITEMS (00 D) 10000 129.08 0.3 0.1
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9687 127.6 0.3 0.0
  • Source : INSEE - Consumer Price Indexes

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

Detailed figures for Core inflation* and HICP**
Items Weight Index Percentage change
2015 Aug. 2015 m-on-m change y-on-y change
All items "Core inflation" (4022 S) 6042 123.43 0.1 0.6
Food excluding fresh products, meat, milk and exotic products (4019 S) 715 124.53 -0.1 -0.1
Manufactured products (4020 S) 2103 104.08 0.1 -0.6
Services including actual rentals and services for dwellings (4021 S) 3224 141.82 0.2 1.5
All items HICP (00 H) 116.09 0.4 0.1
  • * 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 Indices 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

Prices of petroleum products decreased again

Energy prices were down for the third month in a row (-1.9% in August; -5.1% year-on-year). In the wake of falling crude oil prices, petroleum product prices dropped (-4.8%; -12.5% year-on-year). Thus, prices of motor fuels fell sharply in August (-4.6%; -11.1% year- on-year) and those of heating fuels even more (-7.1%; -21.6% year-on-year). Furthermore, prices of town gas remained broadly unchanged in August (-0.9% year-on-year) while electricity fares rose (+1.8%; +6.3% year-on-year).

Slight seasonal decrease in food prices

In August 2015, food prices were down slightly (-0.1%; +0.8% year-on-year) as a result of the seasonal decrease in prices of fresh foodstuffs (-1.5%; +8.0% year-on-year), in particular those of fresh fruits (-4.9%; +8.5% year-on-year). However, prices of fresh vegetables rose in August (+0.7%; +9.5% year-on-year), the high summer heat curbing the supply of these products. After a stability during the four previous months, prices of processed food products grew slightly in August (+0.1%; -0.1% year-on-year). Most of food goods became more expensive, excepting children foods and dietetic products (-0.8%; -7.0% year-on-year), pastries, cakes (-0.2%; -1.0% year-on-year) and cheese (-0.1%; -2.0% year-on-year).

Seasonal increase in service prices

As every year, service prices grew in August (+0.2% compared with the previous month; +1.3% year-on-year), mainly those of services related to tourism, as accomodation services (+4.4%; +2.2% year-on-year), package holidays (+7.1%; +2.4% year-on-year) and holiday rentals (+5.9%; +0.9% year-on-year). Conversely, airfares declined in August 2015 (-1.7%; -0.5% year-on-year).

Core inflation remained moderate

The core inflation indicator (ISJ) rose slightly again : +0.1% in August 2015, as in July. Year-on-year, it grew by 0.6% (after +0.7% year-on-year in July). The Harmonized Index of Consumer Prices (HICP) bounced back : +0.4% in August after -0.5% in July. Year-on-year, it increased by 0.1%, a lower pace than during the previous months (+0.2% year-on-year in July and +0.3% in May and June 2015).

Documentation

Methodology (pdf, 141 Ko)