Consumer prices decreased by 0.4% in September 2015; they were stable year-on-yearConsumer price index - final results - September 2015

In September 2015, the Consumer Price Index (CPI) fell back (–0.4% after +0.3% in August). Seasonally adjusted, it decreased slightly (–0.1%) for the second month in a row. Year-on-year, it remained stable, as in August.

Informations rapides
No 248221
Paru le : 14/10/2015
Prochaine parution le : 15/11/2017 at 08:45 - October 2017

Monthly change: –0.4%; Year-on-year: 0.0%

In September 2015, the Consumer Price Index (CPI) fell back (–0.4% after +0.3% in August). Seasonally adjusted, it decreased slightly (–0.1%) for the second month in a row. Year-on-year, it remained stable, as in August.

In September, the main contributors to the decrease in the CPI came from a seasonal downturn in some services related to tourism after the school holiday period and a further drop in prices of petroleum products. Conversely, the prices of manufactured products bounced back at the end of the summer sales in Metropolitan France. Moreover, food prices increased due to more expensive fresh foodstuffs.

Seasonal decline in service prices

Seasonally, service prices were down in September (–1.6% as in September 2014). Year-on-year, they grew by 1.3% as in August. The main contributors to this seasonal decrease were price falls in services related to tourism, as accommodation services (–16.4%; +2.3% year-on-year), package holidays (–28.8%; +0.3% year-on-year), holiday rentals (–24.4%; +0.9% year-on-year) and airfares (–18.8%; –1.2% year-on-year). On the other hand, some charges increased seasonally in September, in particular for school canteen and university cafeteria services (+1.5%; +2.2% year-on-year) and recreational and cultural services (+0.2%; +1.7% year-on-year). Furthermore, prices of telecommunication were stable in September and increased by 1.4% year-on-year.

OLE_LINK2 – Detailed figures for various groups

1998: 100
Detailed figures for various groups
Items Weight Index Percentage change
2015 Sept. 2015 m-on-m change y-on-y change
a) All households - France
All items (00 E) 10000 127.84 –0.4 0.0
All items SA (00 C) 10000 127.91 –0.1 0.0
Food (4000 E) 1662 132.49 0.5 0.9
Fresh food (4001 E) 211 145.78 4.4 7.4
Food excluding fresh products (4002 E) 1451 130.62 –0.1 0.0
Tobacco (4034 E) 199 259.27 0.0 0.3
MANUFACTURED PRODUCTS (4003 E) 2584 99.86 1.4 –0.9
Clothing and footwear (4004 E) 437 110.93 7.7 –0.9
Medical products (4005 E) 427 75.23 0.0 –3.7
Other manufactured products (4006 E) 1720 103.65 0.3 –0.1
ENERGY (4007 E) 815 166.45 –1.0 –5.9
Petroleum products (4008 E) 418 171.34 –2.2 –14.3
SERVICES (4009 E) 4740 137.49 –1.6 1.3
Actual rentals and services for dwellings (4010 E) 767 143.03 0.0 0.9
Medical services (4011 E) 568 122.37 0.1 0.5
Transport and communication services (4012 E) 510 96.24 –4.6 0.8
Other services (4013 E) 2895 149.01 –1.8 1.6
ALL ITEMS EXCLUDING RENTALS AND TOBACCO (5000 E) 9192 125.2 –0.4 0.0
ALL ITEMS EXCLUDING TOBACCO (4018 E) 9801 125.92 –0.4 0.0
b) Manual or clerical worker headed urban households - France
ALL ITEMS EXCLUDING TOBACCO (4018 D) 9714 125.73 –0.4 0.1
ALL ITEMS (00 D) 10000 128.54 –0.4 0.1
c) Households that belong to the lowest equivalized disposable income quintile - France
ALL ITEMS EXCLUDING TOBACCO (4018 Q) 9687 126.94 –0.5 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 Sept. 2015 m-on-m change y-on-y change
All items "Core inflation" (4022 S) 6042 123.20 –0.2 0.6
Food excluding fresh products, meat, milk and exotic products (4019 S) 715 124.53 0.0 -0.1
Manufactured products (4020 S) 2103 104.28 0.2 -0.4
Services including actual rentals and services for dwellings (4021 S) 3224 141.39 –0.3 1.4
All items HICP (00 H) 115.66 –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

Drop in energy prices since June

Energy prices were down for the fourth month in a row (–1.0%; –5.9% year-on-year) due to a new drop in petroleum product prices (–2.2%; –14.3% year-on-year). In particular, prices of motor fuels decreased again (–3.0%; –13.5% year-on-year). By contrast, heating fuels recovered (+1.2% after –7.1%) but

remained down sharply compared with the same month one year ago (–20.4%). Prices of town gas increased slightly (+0.5%; +0.2% year-on-year) and electricity rates were flat (+6.3% year-on-year).

Rebound in food prices

In September 2015, food prices bounced back (+0.5% after –0,1%). Year-on-year, they sped up slightly (+0.9% after +0.8% in August). Prices of fresh foodstuffs were dynamic (+4.4% month-on-month; +7.4% year-on-year), in particular those of fresh vegetables (+7.5% month-on-month; +8.7% year-on-year) and those of fresh fishes and seafood (+5.3%; month-on-month; +3.4% year-on-year). Excluding fresh products, food prices declined slightly in September (–0.1%) and were stable year-on-year.

Prices of manufactured products increased again after the end of summer sales

Prices of manufactured products increased again (+1.4% in September after +1.6%; –0.9% year-on-year). This increase was more pronounced than last year (+1.2% in September 2014) because of the introduction of an additional week of sales in August this year. Thus, the rebound of clothing and footwear prices related to new autumn-winter collections was more significant in September this year (+7.7% after +6.1% in September 2014). On the other hand, as in August, the effect of the additional week of sales was not noticeable on the prices of the other manufactured products, which rose by 0.3% compared to August as in September 2014 (–0.1% year-on-year).

Slight decline in core inflation

The core inflation indicator (ISJ) went down slightly (–0.2% in September after +0.1% in August). Year-on-year, it rose by 0.6%, as in August. The Harmonized Index of Consumer Prices (HICP) also fell back, dropping by 0.4% month-on-month after +0.4% in August. Year-on-year, it increased by 0.1% as in the previous month.

Documentation

Methodology (pdf, 141 Ko)