In September 2016, consumer prices decreased by 0.2% over a month; they rose by 0.4% year-on-yearConsumer price index - final results - September 2016

In September 2016, the Consumer Prices Index (CPI) dipped by 0.3% over a month, after a increase of 0.3% in August. Seasonally adjusted, it rose by 0.1%, after a slight fall in August. Year-on-year, the CPI grew by 0.4%, after +0.2% in the three previous months.

Informations rapides
No 265
Paru le : 12/10/2016
Prochaine parution le : 12/10/2017 at 08:45 - September 2017

Monthly change: −0.2%; Year-on-year: +0.4%

In September 2016, the Consumer Prices Index (CPI) dipped by 0.3% over a month, after a increase of 0.3% in August. Seasonally adjusted, it rose by 0.1%, after a slight fall in August. Year-on-year, the CPI grew by 0.4%, after +0.2% in the three previous months.

This month-on-month drop mainly came from the seasonal retreat in the prices of some tourism-related services after the summer school holiday period. Moreover, food prices diminished, especially fresh foodstuffs prices. Furthermore, a rebound in petroleum product prices after two months of decline, and a further rise in manufactured products prices mitigated the overall decrease.

Seasonal decrease in service prices

Every year after the summer school holiday period, the prices of services went down in September. The downturn in September 2016 (−1.1%) was less sharp than in September 2015 (−1.6%). Year-on-year, prices increased by 1.2%. This month-on-month drop resulted chiefly from tourism-related services : airfares fell back (−18.2%; −5.1% year-on-year) as accomodation services prices (−18.2%; +2.3% year-on-year) and package holidays prices (−17%; +2.3% year-on-year). These decreases were partly offset by the increases, also seasonal, in some charges, in particular for canteens (+1.5%; +2.6% year-on-year). Moreover, the prices of communication services started to rise again (+0.8%; +3.3% year-on-year) after a stability in August.

T1IR_Eng – Detailed figures for various groups

2015: 100
Detailed figures for various groups
Items Weight Index Percentage change
2016 Sept. 2016 m-on-m change y-on-y change
a) All households
Overall 10000 100.34 −0.2 0.4
Overall SA* 10000 100.40 0.1 0.4
Food 1615 100.53 −0.5 0.5
Fresh food 217 103.71 −2.5 3.5
Other food 1398 100.03 −0.2 0.0
Tobacco 195 100.17 0.0 0.1
Manufactured products 2651 99.99 1.3 −0.6
Clothing and footwear 414 104.14 7.9 0.0
Medical products 466 96.58 0.0 −2.7
Other manufactured products 1771 99.84 0.2 −0.3
Energy 773 97.31 0.8 −1.1
Petroleum products 419 95.11 1.4 −1.4
Services 4766 101.01 −1.1 1.2
Actual rentals and services for dwellings 768 100.68 0.0 0.9
Medical services 598 99.95 0.1 0.3
Transport 279 97.03 −6.7 −0.6
Communication 245 103.36 0.8 3.3
Other services 2876 101.50 −1.3 1.5
Total except rents and tobacco 9183 100.34 −0.3 0.4
Total except tobacco 9805 100.35 −0.2 0.4
b) Urban working-class households or households of employees
All products excluding tobacco 9704 100.35 0.0 0.4
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9696 100.13 −0.1 0.2
  • *: seasonally adjusted
  • Geographical coverage: France excluding Mayotte
  • Source: INSEE - Consumer Price Indices

Downturn in food prices

In September 2016, food prices fell back (−0.5% after +0.2%), especially those of fresh food (−2.5% after +0.5%). Excluding fresh products, food prices dipped too (−0.2% after +0.1%), due to dairy products (−0.2%) and meat (−0.3%). Year-on-year, they were stable.

Rebound in energy prices

After two months of drop, energy prices rebounded in September 2016 (+0.8%). However, they remained lower than a year ago (−1.1%). The month-on-month rise firstly came from the increase in petroleum product prices (+1.4%; −1.4% year-on-year). Town gas and natural gas prices, indexed to the changes in oil prices with a time lag, expanded too, but more modestly (+0.4%; −7.8% year-on-year). However, electricity fares were stable over the month (+1.8% year-on-year).

Slight slowdown for manufactured product prices

Prices of manufactured products slowed slighlty in September 2016 (+1.3% after +1.4%). With the autumn and winter collection, clothing and footwear prices remained dynamic (+7.9% after +8.7%).

Prices of “other manufactured products” decelerated too (+0.2% after +0.4% in August), due to the fall of the prices of games, toys and hobbies and those of sports equipment ; however, new motors car prices picked up after two months of decline (+0.5% after −0.3% in July and −0.1% in August). Lastly, the prices of health products were unchanged and remained lower than last year (−2.7% year-on-year).

Rise in core inflation

In September 2016, the core inflation indicator (ISJ) increased by 0.2% after a stability in August. Year-on-year, it gathered pace to 0.7% after +0.4% in the previous month, returning to its level of June 2016. The Harmonised Index of Consumer Prices (HICP) edged down by 0.2% over one month ; year-on-year, it went up by 0.5% (+0.4% in August).

GraphiqueIR_English – Consumer price index (CPI), core inflation (ISJ)* and Harmonised Indices of Consumer Prices (HICP)** year-on-year changes

T2IR_Eng – Detailed figures for Core inflation* and HICP**

2015: 100
Detailed figures for Core inflation* and HICP**
Items Weight Index Percentage change
2016 Sept. 2016 m-on-m change y-on-y change
Core inflation - All items 6075 100.80 0.2 0.7
Food excluding fresh products, meat, milk and exotic products 735 100.07 0.0 0.1
Manufactured products 2136 99.78 0.0 −0.3
Services including actual rentals and services for dwellings 3204 101.68 0.4 1.5
HICP - All items 100.50 −0.2 0.5
  • * 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. (in French “indice d'inflation sous-jacent – ISJ”)
  • **HICP: Harmonised Indices of Consumer Prices are inflation figures designed for international comparison between Member states of the European Union. This index is calculated for all households in France excluding Mayotte.
  • Source: INSEE - Consumer Price Indices

Revisions

Compared to the provisional estimates published on 30 September 2016, the monthly and annual rates of change in the CPI and HICP are unchanged.