15 November 2016
2016- n° 294In October 2016, consumer prices were stable over a month; they rose by 0.4% year-on-year Consumer 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.
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%).
tableauTable1 – 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.
graphiqueGraph – Consumer price index (CPI), core inflation (ISJ)* and Harmonised Indices of Consumer Prices (HICP)** year-on-year changes
tableauTable2 – 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
Documentation
Methodology (pdf,141 Ko)
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