In June 2017, consumer prices were stable over a month and rose by 0.7% year on yearConsumer price index - final results - June 2017

In June 2017, the Consumer Prices Index (CPI) was stable for the second consecutive month. Seasonally adjusted, it was unchanged too, after a downturn by 0.2% in May. Year on year, consumer prices slowed down slightly (+0.7% after +0.8%).

Informations rapides
No 184
Paru le : 13/07/2017
Prochaine parution le : 15/11/2017 at 08:45 - October 2017

Monthly change: 0.0%; Year-on-year change: +0.7%

In June 2017, the Consumer Prices Index (CPI) was stable for the second consecutive month. Seasonally adjusted, it was unchanged too, after a downturn by 0.2% in May. Year on year, consumer prices slowed down slightly (+0.7% after +0.8%).

Over a month, the increase in services prices due to a seasonal rebound in airfares was offset by a drop in energy prices and a downturn in food prices. The prices of manufactured products rose barely over a month, as in the two previous months.

Seasonal rise in services prices

In June 2017, services prices increased by 0.3% after having been stable in the previous month. This rise came from a seasonal rebound in airfares (+5.0% after −8.7%; +2.4% year on year). Health services prices rose again (+0.6% after +0.7%), after the rise, in May, in practitioners' consultation fees. Contrariwise, communication services prices fell again sharply (−1.0% as in May, −4.9% year on year), due to a drop in prices of some mobile services fees, and to a lesser extent, to the end of roaming out in Europe. The prices of "other services" slowed down in June (+0.2% after +0.4%): the decline in insurance prices (−0.5% after +0.9%; +2.2% year on year) due to promotional offers for dwelling's insurance was however mitigated by a seasonal acceleration in accomodation services (+3.1% after +1.9%; +0.1% year on year).

Table1 – Detailed figures for various groups

2015: 100
Detailed figures for various groups
Items Weight Index Percentage change
2017 June 2017 m-on-m change y-on-y change
a) All households
Overall 10000 101.32 0.0 0.7
Overall SA* 10000 100.97 0.0 0.7
Food 1627 101.55 −0.3 0.8
Fresh food 235 106.94 −2.3 1.5
Other food 1392 100.70 0.1 0.6
Tobacco 188 102.54 −0.2 2.4
Manufactured products 2617 99.91 0.1 −0.3
Clothing and footwear 433 105.20 0.4 1.7
Medical products 433 94.89 −0.1 −2.2
Other manufactured products 1751 99.94 0.0 −0.3
Energy 748 101.27 −1.1 1.9
Petroleum products 378 100.83 −2.2 1.6
Services 4820 101.99 0.3 0.9
Actual rentals and services for dwellings 779 101.06 0.0 0.5
Health services 600 101.93 0.6 1.6
Transport 282 100.00 2.1 2.2
Communication 242 97.61 −1.0 −4.9
Other services 2917 102.80 0.2 1.3
Total except rents and tobacco 9183 101.35 0.0 0.7
Total except tobacco 9812 101.30 0.0 0.7
b) Urban working-class households or households of employees
All products excluding tobacco 9710 101.18 0.0 0.6
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9705 100.98 0.0 0.6
  • *: seasonally adjusted
  • Geographical coverage: France excluding Mayotte
  • Source: INSEE - Consumer Price Indices

Further drop in energy prices

In June 2017, energy prices declined for the fourth consecutive month (−1.1% after −0.3% in April and −1.5% in May). Year on year, they slowed down significantly to +1.9%, lower increase since October 2016. The further monthly decline in energy prices came totally from that of petroleum products (−2.2% after −2.1%). Prices in natural gas and town gas prices were stable in June (+9.0% year on year). Electricity prices have been unchanged since August 2016.

Seasonal downturn in fresh product prices

In June 2017, food prices edged down by 0.3% after a rebound of 0.7% in May. Year on year, they accelerated to +0.8% after +0.4% in May. The monthly downturn was due to that, seasonal, of fresh product prices (−2.3% over a month). Year on year, fresh product prices revovered (+1.5%) after a one-time drop of 0.3% in May. Excluding fresh products, food prices barely decelerated (+0.1% over a month after +0.2%, +0.6% year on year), due to a slowdown in meat prices (+0.2% after +0.4%; +1.2% year on year).

Tobacco prices declined again slightly over a month. Year on year, their rise remained sustained at +2.4%.

Slight increase in manufactured products prices

The prices of manufactured products rose little in June 2017 (+0.1% as in the two previous months). Year on year, their drop was again less pronounced (−0.3% after −0.7%). Over a month, clothing and footwear prices barely slowed down (+0.4% after +0.5%). Summer sales beginning later than in the previous year, their prices rebounded to +1.7% year on year after −0.5% in May. The prices of “other manufactured goods” were stable after +0.1% in the previous month (−0.3% year on year). The prices of health products declined by 0.1% as in May.

Slight increase in core inflation over a year

In June 2017, the core inflation indicator (ISJ) was rose by 0.1% after having been stable in May. Year on year, it increased at the same pace than in the previous month (+0.4%). The Harmonised Index of Consumer Prices (HICP) was unchanged as in the pevious month; year on year, it slowed down very slightly (+0.8%, after +0.9%).

Graph1 – Consumer Price Index (CPI), core inflation (ISJ)* and Harmonised Index 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
2017 June 2017 m-on-m change y-on-y change
Core inflation - All items 6134 101.11 0.1 0.4
Food excluding fresh products, meat, milk and exotic products 744 100.50 0.0 0.5
Manufactured products 2136 100.05 0.4 0.0
Services including actual rentals and services for dwellings 3254 101.94 0.0 0.7
HICP - All items 101.58 0.0 0.8
  • * 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 with the provisional estimates published on 30 June 2017, the month-on-month and year-on year changes in the CPI and in the HICP have not been revised.