14 November 2018
2018- n° 296In October 2018, consumer prices recovered by 0.1% over one month and rose by 2.2%
year on year Consumer price index - final results - October 2018
In October 2018, the Consumer Prices Index (CPI) slightly recovered to +0.1% over a month, after a 0.2% downturn in September. This rebound came from an acceleration in energy prices (+1.8% after +0.9%). Those of services were stable after a 1.5% downturn in September. Manufactured product prices were unchanged too after +1.3% in the previous month. The downturn in fresh food prices (−1.2% after +3.8%) limited the month-on-month global rebound.
Monthly change: +0,1% in October; Year-on-year change: +2.2%
In October 2018, the Consumer Prices Index (CPI) slightly recovered to +0.1% over a month, after a 0.2% downturn in September. This rebound came from an acceleration in energy prices (+1.8% after +0.9%). Those of services were stable after a 1.5% downturn in September. Manufactured product prices were unchanged too after +1.3% in the previous month. The downturn in fresh food prices (−1.2% after +3.8%) limited the month-on-month global rebound.
Seasonally adjusted, consumer prices rose by 0.1% over a month, as in the two previous months.
Year on year, consumer prices increased by 2.2%, as in September. This stability in inflation resulted from a year-on-year acceleration in services and energy prices, offset by a slowdown in fresh food prices and a little higher decrease in those of manufactured products.
Slight rise in core inflation year on year
Year on year, core inflation slightly rose: +0.8% after +0.7% in the previous month. The Harmonised Index of Consumer Prices (HICP) rebounded a little to +0.1%, after −0.2% in September; year on year, it grew by 2.5%, as in the previous month.
Further drop in energy inflation
In October 2018, energy inflation rose again after two months of drop (+13.8% year on year after +12.8% in September and +13.0% in August). The prices of petroleum products were more dynamic than in the previous month (+20.7% year on year after +19.5%). Gas prices accelerated again (+22.7% year on year after +20.7%).
tableauTable1 – Detailed figures for various groups
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2018 | Oct. 2018 | m-on-m change(2) | y-on-y change(3) | |
| a) All households | ||||
| Overall | 10000 | 103.67 | 0.1 | 2.2 |
| Overall SA(1) | 10000 | 103.73 | 0.1 | 2.2 |
| Food | 1627 | 104.30 | −0.2 | 2.2 |
| Fresh food | 243 | 115.77 | −1.2 | 7.0 |
| Other food | 1384 | 102.45 | 0.0 | 1.4 |
| Tobacco | 193 | 119.79 | 0.0 | 16.8 |
| Manufactured products | 2594 | 99.32 | 0.0 | −0.4 |
| Clothing and footwear | 416 | 104.07 | 0.1 | 0.0 |
| Medical products | 425 | 92.54 | −0.1 | −2.3 |
| Other manufactured products | 1753 | 99.91 | 0.0 | 0.0 |
| Energy | 777 | 117.42 | 1.8 | 13.8 |
| Petroleum products | 408 | 126.22 | 2.6 | 20.7 |
| Services | 4809 | 103.09 | 0.0 | 1.2 |
| Actual rentals and services for dwellings | 764 | 100.87 | 0.1 | −0.3 |
| Health services | 617 | 102.49 | 0.0 | 0.3 |
| Transport | 282 | 100.31 | 2.2 | 0.5 |
| Communication | 223 | 96.10 | 0.0 | −1.9 |
| Other services | 2923 | 104.65 | −0.3 | 2.1 |
| Total except rents and tobacco | 9192 | 103.61 | 0.1 | 2.1 |
| Total except tobacco | 9807 | 103.37 | 0.1 | 1.9 |
| b) Urban working-class households or households of employees | ||||
| All products excluding tobacco | 9706 | 103.15 | 0.1 | 1.8 |
| c) Households that belong to the lowest equivalized disposable income quintile - France | ||||
| All products excluding tobacco | 9700 | 103.01 | 0.2 | 1.8 |
- (1) seasonally adjusted
- (2) [m/(m-1)]
- (3) [m/(m-12)]
- Geographical coverage: France excluding Mayotte
- Source: INSEE - Consumer Price Indices
Slight acceleration in services prices year on year
Year on year, services prices rose more than in the previous month (+1.2% after +1.1%). Transport prices rebounded after a downturn in September (+0.5% year on year after −0.5%), in particular those in airfares (+1.0% year on year after −0.9%). Accommodation services prices gathered pace (+5.2% year on year after +4.7%). Health services prices slowed down (+0.3% year on year after +0.7%). Communication services prices dropped barely less than in September (−1.9% after −2.0%). Finally, the prices of actual rentals and of services for dwellings decreased by 0.3%, as in the three previous months.
Sharper drop in manufactured product prices year on year
Year on year, the fall in manufactured product prices had been accentuated for the second consecutive month (−0.4% after −0.2% in September and −0.1% in August). Clothing and footwear prices were stable in October after a 0.5% slowdown in September. The prices of “other manufactured products” were unchanged too after +0.1% in the previous month. The motor cars prices slightly accelerated (+2.0% year on year after +1.8%). The drop in household appliances prices was a little accentuated (−2.1% after −1.9%) and these in games and toys prices more marked (−3.0% after −2.1%). Moreover, health product prices decreased by 2.3% year on year, as in September.
Slowdown in food prices year on year
In October 2018, food prices decelerated: +2.2% over a year, after +2.8% in the previous month. The prices of fresh products sharply slackened after a large acceleration in the previous month (+7.0% year on year after +11.2%): fresh vegetables prices considerably decelerated (+9.0% after +20.8%) and those of fresh fruits also slowed down (+5.0% year on year after +7.5%). Excluding fresh products, food prices rose by 1.4% over a year for the third consecutive month.
graphiqueGraph1 – Consumer Price Index (CPI), core inflation (ISJ) (1) and Harmonised Index of Consumer Prices (HICP) (2) year-on-year changes
tableauTable2 – Detailed figures for Core inflation(1) and HICP(2)
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2018 | Oct. 2018 | m-on-m change(3) | y-on-y change(4) | |
| Core inflation - All items | 6041 | 101.96 | 0.1 | 0.8 |
| Food excluding fresh products, meat, milk and exotic products | 740 | 101.79 | 0.1 | 1.1 |
| Manufactured products | 2125 | 99.66 | −0.1 | 0.0 |
| Services including actual rentals and services for dwellings | 3176 | 103.57 | 0.2 | 1.2 |
| HICP - All items | 104.24 | 0.1 | 2.5 | |
- (1) 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”)
- (2) 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.
- (3) [m/(m-1)]
- (4) [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Revisions
Compared with the provisional estimates published on October 31, 2018, the month-on-month and year-on-year changes in the CPI and in the HICP are confirmed.
Documentation
Methodology (pdf,141 Ko)
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