In October 2016, consumer prices were stable over a month; they rose by 0.4% year-on-yearConsumer price index - final results - October 2016

In October 2016, the Consumer Prices Index (CPI) was stable over a month, after a downturn by 0.2% in September. Seasonally adjusted, it was unchanged too, after a slight rise in September. Year-on-year, the CPI grew by 0.4% as in the previous month.

This month-on-month stability came from an acceleration in energy prices, offset by a fall in food and services prices. Furthermore, manufactured product prices were unchanged.

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No 294
Paru le : 15/11/2016
Prochaine parution le : 15/11/2017 at 08:45 - October 2017

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

In October 2016, the Consumer Prices Index (CPI) was stable over a month, after a downturn by 0.2% in September. Seasonally adjusted, it was unchanged too, after a slight rise in September. Year-on-year, the CPI grew by 0.4% as in the previous month.

This month-on-month stability came from an acceleration in energy prices, offset by a fall in food and services prices. Furthermore, manufactured product prices were unchanged.

Acceleration in energy prices

In October 2016, energy prices sped up (+1.3%) after a rebound in the previous month (+0.8%). Year-on-year, they increased for the first time since December 2014 (+0.7% after −1.1% the previous month). The overall rise resulted from that in petroleum product prices (+2.4% after +1.4% in September; +1.8% year-on-year). It was slightly offset by the fall in town gas and natural gas prices, index-linked to the changes in oil prices with a time lag (−0.7%; −7.2% year-on-year). Electricity fares were stable over the month for the second consecutive month (+1.8% year-on-year).

Further fall in food prices

In October 2016, food prices fell again, but less than the previous month (−0.1% after −0.5%), due to fresh food (−0.1% after −2.5%). Excluding fresh products, food prices were unchanged after a moderate decrease in September (−0.2%). Year-on-year, food prices edged down (−0.1%).

Table1 – Detailed figures for various groups

2015: 100
Detailed figures for various groups
Items Weight Index Percentage change
2016 Oct. 2016 m-on-m change y-on-y change
a) All households
OverAll 10000 100.37 0.0 0.4
Overall SA* 10000 100.39 0.0 0.4
Food 1615 100.47 −0.1 −0.1
Fresh food 217 103.59 −0.1 0.0
Other food 1398 99.98 0.0 −0.1
Tobacco 195 100.17 0.0 0.1
Manufactured products 2651 99.96 0.0 −0.6
Clothing and footwear 414 104.53 0.4 0.2
Medical products 466 96.32 −0.3 −2.5
Other manufactured products 1771 99.79 −0.1 −0.4
Energy 773 98.53 1.3 0.7
Petroleum products 419 97.42 2.4 1.8
Services 4766 100.89 −0.1 1.0
Actual rentals and services for dwellings 768 100.68 0.0 0.2
Medical services 598 100.38 0.4 0.3
Transport 279 98.33 1.3 −0.5
Communication 245 103.31 0.0 3.2
Other services 2876 101.09 −0.4 1.3
Total except rents and tobacco 9183 100.37 0.0 0.4
Total except tobacco 9805 100.37 0.0 0.4
b) Urban working-class households or households of employees
All products excluding tobacco 9704 100.36 0.0 0.4
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9696 100.24 0.1 0.3
  • *: seasonally adjusted
  • Geographical coverage: France excluding Mayotte
  • Source: INSEE - Consumer Price Indices

Smaller fall in services prices

In October 2016, the prices of services fell again, but significantly less than in the previous month (−0.1% après −1.1%). Year-on-year, prices slowed down (+1.0% after +1.2% in September). This slight month-on-month fall came chiefly from tourism-related services, as accomodation services (−2.0%) and package holidays (−2.5%). However, airfares rebounded (+5.2% after −18.2%; −3.9% year-on-year). Moreover, the prices of communication services were stable after a rise in the previous month; year-on-year, they rose by +3.2%.

Stability for manufactured product prices

In October 2016, prices of manufactured products were unchanged after an increase in September (+1.3%). Year-on-year, they diminished by 0.6%, as in September. Still very dynamic in the previous month, clothing and footwear prices decelerated sharply (+0.4% after +7.9%). Prices of “other manufactured products” fell slightly (−0.1%), due to the downturn in new motors car prices (−0.6% after +0.5%). Lastly, the prices of health products fell back by 0.3%. Year-on-year, their decrease remained lower than last year (−2.5% year-on-year; −4.2% in October 2015).

Slight downturn in core inflation

In October 2016, the core inflation indicator (ISJ) went down to −0.1% after a rise by 0.2% in September. Year-on-year, it decelerated to +0.5% after +0.7% in the previous month. The Harmonised Index of Consumer Prices (HICP) were stable over one month; year-on-year, it rose by 0.5%, as in September.

Revisions

Compared to the provisional estimates published on 28 October 2016, the monthly and annual rates of change in the CPI and HICP are unchanged.

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

Table2 – Detailed figures for Core inflation* and HICP**

2015: 100
Detailed figures for Core inflation* and HICP**
Items Weight Index Percentage change
2016 Oct. 2016 m-on-m change y-on-y change
Core inflation - All items 6075 100.66 −0.1 0.5
Food excluding fresh products, meat, milk and exotic products 735 100.06 0.0 0.1
Manufactured products 2136 99.68 −0.1 −0.5
Services including actual rentals and services for dwellings 3204 101.48 −0.2 1.2
HICP - All items 100.54 0.0 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