14 June 2019
N° 2019-152

In May 2019, consumer prices rose by 0.1% over one month and by 0.9% year on yearConsumer price index - final results - May 2019

Informations rapides
No 152
Paru le : Paru le 14/06/2019
Prochaine parution le : 13/11/2020 at 08:45 - October 2020
Informations rapides  No 152 - June 2019

Monthly change: +0.1% in May; Year-on-year change: +0.9%

In May 2019, the Consumer Prices Index (CPI) rose by 0.1% over a month, after +0.3% in April 2019. This slowdown came from a downturn, over a month, in services prices (−0.2% after +0.5%). Contrariwise, food prices sharply accelerated (+0.7% after +0.1%). Those of manufactured product (+0.2% after +0.1%) and tobacco (+0.3% after +0.1%) increased more than in the previous month. Finally, energy prices rose at the same pace as in April (+0.6%).

Seasonally adjusted, consumer prices fell back by 0.1% over a month, after +0.3% in April.

Year on year, consumer prices slowed down in May to +0.9% after +1.3% in April 2019. This drop in inflation resulted from a lesser dynamism in the prices of services, energy and food, and a more pronounced drop in those of manufactured product. Only tobacco prices gathered pace: +9.1% in May after +8.1%.

Drop in core inflation year on year

Year on year, core inflation fell to +0.5%, after +0.7% in April. The Harmonised Index of Consumer Prices (HICP) slowed down, over a month, to +0.1% in May, after +0.4% in April; year on year, it grew by 1.1%, after +1.5% in the previous month.

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

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

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

  • Source: INSEE.

Sharp slowdown in services prices

In May 2019, services prices were less dynamic than in April: +0.6% year on year after +1.0% in the previous month. Transport prices sharply fell back to −1.5% year on year after +0.5% in the previous month, in the wake of airfares (−2.5% after +3.3%). Health services prices dropped by 0.4% year on year following the implementation of the dental convention, after +0.1% in April. Those of communication services fell more than in April (−3.4% after −3.0%), as those of housing-related services (−0.2% after −0.1%). Finally, those of "other services" slowed down anew (+1.5% year on year after +1.8%).

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2019 May 2019 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 104.33 0.1 0.9
Overall SA(1) 10000 103.95 -0.1 0.9
Food 1619 105.99 0.7 2.3
Fresh food 244 117.48 3.2 2.3
Other food 1375 104.13 0.2 2.3
Tobacco 191 130.00 0.3 9.1
Manufactured products 2556 99.03 0.2 -0.7
Clothing and footwear 400 103.81 0.3 -0.7
Medical products 416 90.15 -0.4 -2.8
Other manufactured products 1740 100.15 0.2 -0.1
Energy 804 116.56 0.6 3.4
Petroleum products 425 124.69 1.3 3.4
Services 4830 103.85 -0.2 0.6
Actual rentals and services for dwellings 746 101.55 0.0 -0.2
Health services 604 102.13 -0.4 -0.4
Transport 285 98.82 -4.5 -1.5
Communication 219 96.18 0.0 -3.4
Other services 2976 105.94 0.2 1.5
Total except rents and tobacco 9208 104.08 0.1 0.9
Total except tobacco 9809 103.86 0.1 0.8
b) Urban working-class households or households of employees
All products excluding tobacco 9707 103.65 0.1 0.7
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9700 103.42 0.0 0.7
  • (1) seasonally adjusted
  • (2) : [m/(m-1)]
  • (3) : [m/(m-12)]
  • Champ : France hors Mayotte
  • Source : Insee - indices des prix à la consommation

New drop in energy inflation

Energy inflation decreased in May 2019 for the second consecutive month (+3.4% year on year after +4.8% in April and +5.1% in March). The petroleum products prices slowed down (+3.4% year on year after +5.7%), due to a less pronounced monthly rise than the previous year. Those of gas also decelerated (+12.2% year on year after +13.0%).

Slowdown in food prices

In May 2019, food prices rose by 2.3% year on year, after +2.5% in April 2019. Those in fresh products increased less strongly than in the previous month (+2.3% year on year after +3.7% in April), due to a downturn in the prices of fresh fruits (−2.8% after +0.5%) and a slowdown in those of fresh vegetables (+2.5% after +3.3%). Excluding fresh products, food prices rose at the same pace as in the previous month (+2.3% year on year).

Accentuated drop in manufactured product prices year on year

Year on year, the fall in manufactured product prices was accentuated in May (−0.7% after −0.5%). This stronger drop came from these in the prices of clothing and footwear (−0.7% year on year after −0.2) and health products (−2.8% after −2.5%). The prices of “other manufactured products” barely dropped, as in April and March (−0.1% year on year). The prices of furniture and furnishings rebounded (+0.9% year on year after −0.4%) and those of glassware, tableware and household utensils gathered pace (+1.4% after +0.9%). Contrariwise, the prices of small electric household appliances fell more (−3.7% year on year after −2.7%) and those of gardens, plants and flowers sharply slowed down (+1.4% after +2.6%).

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2019 May 2019 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6048 102.40 -0.1 0.5
Food excluding fresh products. meat. milk and exotic products 740 103.15 0.1 1.9
Manufactured products 2091 99.65 0.0 -0.2
Services including actual rentals and services for dwellings 3217 104.10 -0.2 0.6
HICP - All items 10000 105.06 0.1 1.1
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on May 29, 2019, the month-on-month and year-on-year changes in the CPI were down by 0.1 points. The month-on-month changein the HICP wasdown by 0.1points and this year-on-year confirmed.

For further information

Next publication of provisional results: 28 June 2019, 8.45 am

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

Documentation

Methodology (pdf, 141 Ko)

Next publication of provisional results: 28 June 2019, 8.45 am

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


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