15 May 2020
N° 2020-121

In April 2020, consumer prices were stable over one month and increased by 0.3% year on yearConsumer price index - final results - April 2020

Informations rapides
No 121
Paru le : Paru le 15/05/2020
Prochaine parution le : 12/06/2020 at 08:45 - May 2020
Informations rapides  No 121 - May 2020
Warning

The health crisis due to the Covid-19 impacts the quality of the data for April 2020: price collection on the field has been adjourned since 16 March, some outlets were closed and a lot of products were no more available for sale. The prices of more than four tenth of the consumption are therefore imputed due to the health crisis.

Additional information is available in “For further information”.

Monthly change: 0.0% in April; Year-on-year change: +0.3%

In April 2020, the Consumer Price Index (CPI) was stable over a month, after +0.1% in the previous month. The drop in energy prices (−4.2% after −3.9%) was offset by the rebound in those of food prices (+1.8% after −0.1%). After a 0.2% drop in March, service prices were stable in April.

Those of manufactured products were unchanged too, after +1.4% in March. Finally, tobacco prices were stable over a month.

Seasonally adjusted, consumer prices fell by 0.1% in April, after −0.6% in March.

Year on year, consumer prices slowed down for the third consecutive month, to +0.3%, after +0.7% in March. The sharp drop in inflation came from an accentuation of the drop in the prices of energy and manufactured products and a slowdown in service and tobacco prices. Contrariwise, food prices gathered pace year on year.

Drop in core inflation year on year

Year on year, core inflation sharply fell in April: +0.3% after +0.7% in the previous month. The Harmonised Index of Consumer Prices (HICP) was stable over a month, after +0.1% in March; year on year, it slowed down for the third consecutive month, to +0.4%, after +0.8% 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 ()
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 1.0 0.2
2016-01 0.3 0.9 0.2
2016-02 -0.1 0.7 -0.2
2016-03 -0.1 0.7 -0.1
2016-04 -0.1 0.6 -0.2
2016-05 0.1 0.7 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 0.5 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 0.4 1.1
2017-04 1.4 0.5 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 0.5 0.9
2017-09 1.1 0.5 1.0
2017-10 1.2 0.5 1.1
2017-11 1.2 0.6 1.2
2017-12 1.2 0.6 1.2
2018-01 1.5 0.8 1.3
2018-02 1.3 0.8 1.2
2018-03 1.7 0.9 1.6
2018-04 1.8 0.8 1.6
2018-05 2.3 1.0 2.0
2018-06 2.3 0.8 2.0
2018-07 2.6 0.8 2.3
2018-08 2.6 0.9 2.3
2018-09 2.5 0.7 2.2
2018-10 2.5 0.7 2.2
2018-11 2.2 0.6 1.9
2018-12 1.9 0.6 1.6
2019-01 1.4 0.8 1.2
2019-02 1.6 0.8 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
2019-10 0.9 1.0 0.8
2019-11 1.2 1.0 1.0
2019-12 1.6 1.1 1.5
2020-01 1.7 1.0 1.5
2020-02 1.6 1.3 1.4
2020-03 0.8 0.7 0.7
2020-04 0.4 0.3 0.3

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

  • Source: INSEE.

Accentuated drop in energy prices

Year on year, energy prices fell by 8.6% in April, after a 4.0% downturn in March. It has been their sharpest drop since October 2009. Petroleum product prices collapsed, to −17.0% year on year, after −8.8% in March: over a month, they decreased by 7.4% after −6.5% in the previous month, due to the sharp drop in Brent prices since the beginning of the Covid-19 epidemic. The change in gas prices dropped more too: −13.2% year on year, after −12.1% in March. Electricity prices rose by 9.7% year on year, as in the two previous months.

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2020 April 2020 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 104.56 0.0 0.3
Overall SA(1) 10000 104.39 -0.1 0.3
Food 1610 109.16 1.8 3.7
Fresh food 230 134.11 11.9 17.8
Other food 1380 105.30 0.1 1.4
Tobacco 205 147.41 0.0 13.7
Manufactured products 2491 98.38 0.0 -0.5
Clothing and footwear 380 102.49 0.0 -0.9
Medical products 412 88.34 -0.1 -2.4
Other manufactured products 1699 99.95 0.0 0.0
Energy 808 105.94 -4.2 -8.6
Petroleum products 439 102.17 -7.4 -17.0
Services 4886 104.65 0.0 0.6
Actual rentals and services for dwellings 752 101.92 0.0 0.3
Health services 604 102.98 0.2 0.4
Transport 300 97.33 0.6 -6.0
Communication 215 95.21 -2.6 -1.0
Other services 3015 107.22 0.1 1.4
Total except rents and tobacco 9185 104.00 0.0 0.0
Total except tobacco 9795 103.81 0.0 0.0
b) Urban working-class households or households of employees
All products excluding tobacco 9685 103.52 -0.1 0.0
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9685 103.52 -0.1 0.0
  • (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 food prices year on year

In April 2020, food prices were far more dynamic than in the previous month: + 3.7% year on year after +1.9%. The prices of fresh produces were sharply higher (+17.8% year on year after +4.7%). Those of fresh vegetables soared to +30.3% year on year after +4.8% and those of the other fresh products markedly rose too: + 10.8% year on year for the fresh fruits prices after +5.1%, +19.0% for those of fresh fish after +6.4%.

Excluding fresh produces, food prices rose by 1.4% year on year, as in the previous month. The prices of rice (−0.3% year on year after −0.1%) and flours and other cereals (−1.6% after −0.5%) dropped more and those of oils and fats (−0.3% after +0.4%) and non alcoholic beverages (−0.3% after +0.1%) fell back. The prices of milk, cheese and eggs slowed down (+0.1% after +1.0%), as those of alcoholic beverages (+0.5% year on year after +1.3%). Contrariwise, the prices of pasta products and couscous (−0.1% after −0.6%) and sugar (−0.3% after −0.9%) dropped less than in March. Those of meat (+3.9% after +3.6%), baby food (+1.7% after +1.0%) and dried vegetables, other preserved or processed vegetables (+1.7% after +1.6%) gathered pace.

Slightly intensified drop in manufactured product prices year on year

Year on year, manufactured product prices dropped by 0.5%, after −0.4% in the previous month. Clothing and footwear prices fell back by 0.9% year on year after +0.1% in March. The prices of “other manufactured products” were stable year on year, after −0.1% in the previous month. The prices of the articles for personal hygiene, wellness and beauty products dropped more (−1.3% year on year after −0.5%). Those of cleaning products (−0.9% year on year −1.7%), of small electric household appliances (−1.8% year on year −3.6%) and of information processing equipment (−1.1% year on year −2.6%) dropped less than in March and those of games, toys and hobbies (+1.2% after −1.6%) rebounded. Finally, health product prices dropped by 2.4% year on year, as in March.

Sharp drop in service inflation

Year on year, service prices sharply slowed down in April: +0.6% after +1.1%. Communication service prices fell back (−1.0% year on year after +2.0%). The prices of housing-related services were a little less dynamic (+0.3% year on year after +0.5%). Health service prices rose by 0.4% year on year, after +0.3% in the previous month. Strongly affected by the lockdown measures, transport services prices fell more (−6.0% year on year after −1.0%), in the wake of airfares (−12.6% after −4.4%). The prices of “other services”, whose consumption has been severely limited by the lockdown measures, barely slowed down to +1.4% year on year, after +1.5%.

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2020 April 2020 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6069 102.77 -0.2 0.3
Food excluding fresh products. meat. milk and exotic products 754 103.71 0.1 0.7
Manufactured products 2032 99.42 -0.2 -0.3
Services including actual rentals and services for dwellings 3283 104.85 -0.3 0.5
HICP - All items 10000 105.32 0.0 0.4
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on April 30, 2020, the month-on-month and year-on-year changes in the CPI and in the HICP were down by 0.1points.

For further information

The CPI is calculated using scanner data, prices collected by INSEE collectors in physical outlets and a centralized collection (online collect, administrative data).

The price collection carried out by collectors on the field (about 40% in the CPI) has been suspended since 16 March: for the concerned products, alternative data collections were carried out (price collection online, scanner data…). Moreover, a lot of products are no more available for sale (restaurants, shows…). These missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines.

For further information: https://insee.fr/en/statistiques/4492644#documentation

Next publication of provisional results: 29 May 2020 at 8:45

Next publication of final results: 12 June 2020 at 8:45

The CPI is calculated using scanner data, prices collected by INSEE collectors in physical outlets and a centralized collection (online collect, administrative data).

The price collection carried out by collectors on the field (about 40% in the CPI) has been suspended since 16 March: for the concerned products, alternative data collections were carried out (price collection online, scanner data…). Moreover, a lot of products are no more available for sale (restaurants, shows…). These missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines.

For further information: https://insee.fr/en/statistiques/4492644#documentation

Next publication of provisional results: 29 May 2020 at 8:45

Next publication of final results: 12 June 2020 at 8:45


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