15 October 2019
2019- n° 266In September 2019, consumer prices fell back by 0.3% over one month and rose by 0.9%
year on year Consumer price index - final results - September 2019
- Monthly change: -0.3% in September; Year-on-year change: +0.9%
- Rise in core inflation year on year
- Sharp slowdown in food prices year on year
- Lesser energy inflation
- Acceleration in services prices year on year
- Lesser drop in manufactured products prices year on year
- Revisions
- For further information
Monthly change: -0.3% in September; Year-on-year change: +0.9%
In September 2019, the Consumer Prices Index (CPI) fell back, to −0.3% over a month, after a 0.5% rebound in August. This downturn resulted from that, seasonal, in services prices (−1.3% after +0.4% in August), and in a lesser extent that in food prices (−0.5% after +0.5%). Contrariwise, manufactured product prices gathered pace (+1,5% after +0.9% in August) and those of energy increased by 0.3% after a stability in the previous month. Finally, tobacco prices were stable over a month.
Seasonally adjusted, consumer prices were unchanged over a month, after +0.1% in August and in July.
Year on year, consumer prices slightly recovered, as in the previous month: +0.9% in September, after +1.0% in August and +1.1% in July. This slight fall in inflation came from a slowdown in the prices of food and energy, partly offset by an acceleration in services prices and a lesser drop in manufactured products prices.
Rise in core inflation year on year
Year on year, core inflation increased in September: +0.9% after +0.7% in the previous month. The Harmonised Index of Consumer Prices (HICP) fell back over a month, to −0.4% after +0.5% in August; year on year, it rose by 1.1%, after +1.3% in the previous month.
tableauConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) 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 |
2019-03 | 1.3 | 0.5 | 1.1 |
2019-04 | 1.5 | 0.7 | 1.3 |
2019-05 | 1.1 | 0.5 | 0.9 |
2019-06 | 1.4 | 0.9 | 1.2 |
2019-07 | 1.3 | 0.9 | 1.1 |
2019-08 | 1.3 | 0.7 | 1.0 |
2019-09 | 1.1 | 0.9 | 0.9 |
graphiqueConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
Sharp slowdown in food prices year on year
In September 2019, food prices sharply slowed down: +2.1% year on year, after +3.1% in August. Those of fresh products strongly decelerated (+2.0% year on year after +8.5% in August), due to a marked slowdown in the prices of fresh vegetables (+2.6% after +16.8%) and a downturn in those of fresh fruits (−1.5% after +1.0%). Excluding fresh products, food prices rose at a pace near to that in the previous months (+2.1% year on year after +2.2%).
tableauDetailed figures for various groups
Items | Weight | Index | Percentage change | |
---|---|---|---|---|
2019 | September 2019 | m-on-m change (2) | y-on-y change (3) | |
a) All households | ||||
Overall | 10000 | 104.50 | -0.3 | 0.9 |
Overall SA(1) | 10000 | 104.50 | 0.0 | 0.9 |
Food | 1619 | 106.62 | -0.5 | 2.1 |
Fresh food | 244 | 119.47 | -2.5 | 2.0 |
Other food | 1375 | 104.55 | -0.1 | 2.1 |
Tobacco | 191 | 130.28 | 0.0 | 8.7 |
Manufactured products | 2556 | 98.56 | 1.5 | -0.7 |
Clothing and footwear | 400 | 102.81 | 8.6 | -1.2 |
Medical products | 416 | 89.81 | 0.0 | -3.0 |
Other manufactured products | 1740 | 99.77 | 0.4 | -0.1 |
Energy | 804 | 115.51 | 0.3 | 0.2 |
Petroleum products | 425 | 119.84 | 0.8 | -2.6 |
Services | 4830 | 104.41 | -1.3 | 1.2 |
Actual rentals and services for dwellings | 746 | 101.55 | 0.0 | 0.8 |
Health services | 604 | 102.17 | 0.0 | -0.3 |
Transport | 285 | 99.00 | -10.6 | 0.8 |
Communication | 219 | 96.95 | 0.7 | 0.9 |
Other services | 2976 | 106.76 | -1.2 | 1.7 |
Total except rents and tobacco | 9208 | 104.25 | -0.4 | 0.7 |
Total except tobacco | 9809 | 104.04 | -0.3 | 0.8 |
b) Urban working-class households or households of employees | ||||
All products excluding tobacco | 9707 | 103.79 | -0.1 | 0.7 |
c) Households that belong to the lowest equivalized disposable income quintile - France | ||||
All products excluding tobacco | 9700 | 103.54 | -0.3 | 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
Lesser energy inflation
Energy inflation dropped in September (+0.2% year on year after +0.8%). The prices of petroleum products contracted more sharply than in the previous month (−2.6% year on year after −1.9%): over a month, they rebounded (+0.8% after −0.7%), but the rise was less marked than that in September 2018 (+1.5%). The accentuated drop in gas prices (−3.4% year on year after −2.2%) also contributed to lower energy inflation.
Acceleration in services prices year on year
Year on year, services prices gathered pace, to +1.2%, after +1.1% in August and in July. The prices of communication services rose year on year for the first time since July 2018: +0.9% in September year on year after −0.5%. Moreover, the prices of “other services” accelerated (+1.7% after +1.4%). Contrariwise, those of transport services slowed down, to +0.8% year on year after an acceleration in August (+1,3%), in the wake of those of airfares (+0.8% after +2.8%). Health services prices dropped by 0.3% year on year, after −0.1% in August. Finally, the prices in housing-related services rose by 0.8% year on year, as in August.
Lesser drop in manufactured products prices year on year
Year on year, manufactured product prices dropped less sharply in September than in August: −0.7%, after −0.9%. This lesser fall came from that in clothing and footwear prices (−1.2% after −1.4%). The prices in “other manufactured products” prices fell by 0.1% year on year after −0.4% in August, due to a rebound in the motor cars prices (+0.5% after −0.5%) and an attenuated drop in household appliances prices (−1.2% after −2.0%). Finally, the decrease in health product prices was accentuated barely (−3.0% after −2.9%).
tableauDetailed figures for Core inflation and HICP
Items | Weight | Index | Percentage change | |
---|---|---|---|---|
2019 | September 2019 | m-on-m change (1) | y-on-y change (2) | |
Core inflation - All items | 6048 | 102.87 | 0.1 | 0.9 |
Food excluding fresh products. meat. milk and exotic products | 740 | 103.22 | 0.0 | 1.5 |
Manufactured products | 2091 | 99.51 | 0.2 | -0.3 |
Services including actual rentals and services for dwellings | 3217 | 105.05 | 0.1 | 1.5 |
HICP - All items | 10000 | 105.28 | -0.4 | 1.1 |
- (1) : [m/(m-1)]
- (2) : [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Revisions
Compared with the provisional estimates published on September 27, 2019, the month-on-month and year-on-year changes in the CPI and in the HICP have been confirmed.
For further information
Next publication of provisional results: 31 October 2019, 8.45 am
Next publication of final results: 14 November 2019, 8.45 am
Pour en savoir plus
Next publication of provisional results: 31 October 2019, 8.45 am
Next publication of final results: 14 November 2019, 8.45 am