Informations rapides
14 March 2019
2019 - n° 62
In February 2019, consumer prices were stable over one month and rose by 1.3% year on yearConsumer price index - final results - February 2019

Informations rapides
No 62
Paru le : Paru le 14/03/2019
Prochaine parution le : 16/03/2021 at 08:45 - February 2021

Monthly change: 0.0% in February ; Year-on-year change: +1.3%

In February 2019, the Consumer Prices Index (CPI) was stable over a month, after a 0.4% downturn in December. The rebound in energy prices (+1.3% after −1.2%) was offset by a decline in fresh food prices (−1.3% after +2.4%) and the lesser drop in manufactured product prices (−0.4% after −2.1%). At last, the prices of services are stable in February.

Seasonally adjusted, consumer prices were stable over a month, after +0.2% in January.

Year on year, consumer prices increased by 1.3% in February 2019, after +1.2% in January. This slight rise in inflation came from a year-on-year acceleration in energy and food prices, partly offset by a slowdown in services prices and a higher decrease in those of manufactured products.

Stability in core inflation year on year

Year on year, core inflation was unchanged to +0.7%, as in the three previous months. The Harmonised Index of Consumer Prices (HICP) rebounded to +0.1% over a month in February, after −0.6% in January; year on year, it grew by 1.6%, after +1.4% in the previous month.

Consumer Price Index (CPI), core inflation (ISJ) (1) and Harmonised Index of Consumer Prices (HICP) (2) year-on-year changes

Consumer Price Index (CPI), core inflation (ISJ) (1) and Harmonised Index of Consumer Prices (HICP) (2) year-on-year changes ()
HICP ISJ CPI
2014-01 0.8 0.2 0.6
2014-02 1.1 0.8 0.9
2014-03 0.8 0.5 0.6
2014-04 0.8 0.5 0.7
2014-05 0.8 0.3 0.7
2014-06 0.6 0.1 0.5
2014-07 0.6 0.1 0.5
2014-08 0.5 0.3 0.4
2014-09 0.4 0.1 0.3
2014-10 0.5 0.0 0.5
2014-11 0.4 -0.2 0.3
2014-12 0.1 -0.1 0.1
2015-01 -0.4 0.1 -0.4
2015-02 -0.3 0.2 -0.3
2015-03 0.0 0.2 -0.1
2015-04 0.1 0.4 0.1
2015-05 0.3 0.5 0.3
2015-06 0.3 0.5 0.3
2015-07 0.2 0.6 0.2
2015-08 0.1 0.5 0.0
2015-09 0.1 0.6 0.0
2015-10 0.2 0.8 0.1
2015-11 0.1 0.9 0.0
2015-12 0.3 0.9 0.2
2016-01 0.3 0.9 0.2
2016-02 -0.1 0.8 -0.2
2016-03 -0.1 0.7 -0.1
2016-04 -0.1 0.6 -0.2
2016-05 0.1 0.6 0.0
2016-06 0.3 0.7 0.2
2016-07 0.4 0.5 0.2
2016-08 0.4 0.4 0.2
2016-09 0.5 0.7 0.4
2016-10 0.5 0.5 0.4
2016-11 0.7 0.6 0.5
2016-12 0.8 0.4 0.6
2017-01 1.6 0.6 1.3
2017-02 1.4 0.2 1.2
2017-03 1.4 0.3 1.1
2017-04 1.4 0.4 1.2
2017-05 0.9 0.3 0.8
2017-06 0.8 0.4 0.7
2017-07 0.8 0.5 0.7
2017-08 1.0 0.4 0.9
2017-09 1.1 0.4 1.0
2017-10 1.2 0.4 1.1
2017-11 1.2 0.5 1.2
2017-12 1.2 0.5 1.2
2018-01 1.5 0.9 1.3
2018-02 1.3 0.9 1.2
2018-03 1.7 0.9 1.6
2018-04 1.8 0.9 1.6
2018-05 2.3 1.0 2.0
2018-06 2.3 0.8 2.0
2018-07 2.6 0.9 2.3
2018-08 2.6 0.9 2.3
2018-09 2.5 0.7 2.2
2018-10 2.5 0.8 2.2
2018-11 2.2 0.7 1.9
2018-12 1.9 0.7 1.6
2019-01 1.4 0.7 1.2
2019-02 1.6 0.7 1.3

Consumer Price Index (CPI), core inflation (ISJ) (1) and Harmonised Index of Consumer Prices (HICP) (2) year-on-year changes

  • Source: INSEE.

Marked acceleration in food prices year on year

In February 2019, food prices sharply accelerated: +3.1% year on year after +2.7% in the previous month. Those in fresh products were barely less dynamic than in the previous month (+8.3% year on year after +8.4%): the prices in fresh fruits (+2.7% after +3.6%) and in fresh fish (+4.1% after +5.5%) slowed down, while those in fresh vegetables (+13.6% after +13.0%) rose more. Excluding fresh products, food prices increased, simultaneously with the entry into force of the law “Agriculture and food” (+2.1% after +1.7%), in particular those of alcoholic beverages (+2.7% after +1.8%), non-alcoholic beverages (+2.7% after +2.2%) and those of oils and fats (+7.4% after +6.7%).

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2019 Fev. 2019 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 103,06 0,0 1,3
Overall SA(1) 10000 103,65 0 1,4
Food 1619 105,41 0,2 3,1
Fresh food 244 117,12 -1,3 8,3
Other food 1375 103,52 0,4 2,1
Tobacco 191 120,77 0 14,0
Manufactured products 2556 96,78 -0,4 -0,5
Clothing and footwear 400 91,87 -1,2 0,8
Medical products 416 90,58 -0,7 -3,0
Other manufactured products 1740 99,32 -0,1 -0,2
Energy 804 113,85 1,3 3,2
Petroleum products 425 118,64 2,4 3,2
Services 4830 103,39 0,0 0,9
Actual rentals and services for dwellings 746 101,46 0,4 -0,2
Health services 604 102,71 0,1 0,1
Transport 285 98,44 1,3 -0,5
Communication 219 95,63 0 -3,1
Other services 2976 105,16 -0,2 1,7
Total except rents and tobacco 9208 102,88 0 1,2
Total except tobacco 9809 102,73 0,1 1,1
b) Urban working-class households or households of employees
All products excluding tobacco 9707 102,45 0,1 1,0
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9700 102,33 0,1 1,0
  • (1) seasonally adjusted
  • (2) : [m/(m-1)]
  • (3) : [m/(m-12)]
  • Champ : France hors Mayotte
  • Source : Insee - indices des prix à la consommation

Sharp acceleration in energy prices year on year

Energy inflation sharply rose in February 2019 after three consecutive months of decline (+3.2% year on year after +1.9% in January and +8.0% in December), due to an acceleration in petroleum products prices (+3.2% year on year after +0.2%). Contrariwise, gas prices slowed down in February (+11.9% year on year after +12.7%) and electricity prices fell (−0.3% year on year after +0.2%).

Slowdown in services prices year on year

In February 2019, services prices slightly slowed down: +0.9% year on year after +1.0% in the previous month. Those of transport fell by 0.5% year on year after −0.1% in January, in particular airfares (−2.5% year on year after −1.0%). The drop in housing-related services prices weakened (−0.2% year on year after −0.4%). The prices for "other services" decelerated (+1.7% year on year after +1.9%). Finally, health services prices (+0.1%) and communication services prices (−3.1%) changed year on year at a near pace as these of January.

A little sharper drop in manufactured product prices year on year

Year on year, the fall in manufactured product prices was accentuated in February (−0.5% after −0.4%). This sharper drop came from that of the prices in health products (−3.0% after −2.8%) and in “other manufactured products” (−0.2% after −0.1%). In particular, the prices of sports equipment decreased (−1.4% after 0.0%), those of interior furnishing products were stable after +0.3% in the previous month. Motor car prices slowed down (+1.0% after +1.3%). Contrariwise, the prices of clothing and footwear are more dynamic (+0.8% year on year after +0.5%), the monthly droprelated to the sales, who ended during the month, being less pronounced this year

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2019 Feb. 2019 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6048 102,22 -0,3 0,7
Food excluding fresh products. meat. milk and exotic products 740 102,74 0,4 1,8
Manufactured products 2091 99,82 -0,2 0,0
Services including actual rentals and services for dwellings 3217 103,8 -0,2 0,9
HICP - All items 10000 103,64 0,1 1,6
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on February 28, 2019, the month-on-month and year-on-year changes in the CPI are confirmed. The month-on-month change in the HICP is confirmed and the year-on-year change is up by 0.1 points.

For further information

Next publication of provisional results: 29 March 2019, 8.45 am

Next publication of final results: 11 April 2019, 8.45 am

Documentation

Methodology (pdf, 141 Ko)

Next publication of provisional results: 29 March 2019, 8.45 am

Next publication of final results: 11 April 2019, 8.45 am


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