12 June 2020
N° 2020-146

In May 2020, consumer prices rose by 0.1% over one month and by 0.4% year on yearConsumer price index - final results - May 2020

Informations rapides
No 146
Paru le : Paru le 12/06/2020
Prochaine parution le : 16/07/2020 at 08:45 - June 2020
Informations rapides  No 146 - June 2020
Warning

The health crisis due to the Covid-19 impacts the quality of the data for May 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 about four tenth of the consumption are therefore imputed due to the health crisis.

Additional information is available in “For further information”.

Monthly change: +0.1% in May; Year-on-year change: +0.4%

In May 2020, the Consumer Price Index (CPI) increased by 0.1% over a month, after a stability in the previous month. Unchanged in April, service prices rose by 0.4%, as those of tobacco (+0.4% after +0.0%). The drop in energy prices (−2.1% after −4.2%) was lesser. Contrariwise, food prices slowed down, to +0.5% after +1.8%, and those of manufactured products edged down by 0.1%, after a stability in the previous month.

Seasonally adjusted, consumer prices were stable in May, after −0.1% in April.

Year on year, consumer prices rose by 0.4%, after +0.3% in the previous month. This slight rise in inflation came from an acceleration in services and tobacco prices, partly offset by an accentuation of the drop in the prices of energy and manufactured products and a slowdown in food prices.

Rise in core inflation year on year

Year on year, core inflation rose, in May, by +0.6% after +0.3% in the previous month. The Harmonised Index of Consumer Prices (HICP) increased by 0.2% over a month, after a stability in the previous month; year on year, it rose by 0.4%, as 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 CPI ISJ
2014-01 0.8 0.6 0.2
2014-02 1.1 0.9 0.8
2014-03 0.8 0.6 0.5
2014-04 0.8 0.7 0.5
2014-05 0.8 0.7 0.3
2014-06 0.6 0.5 0.1
2014-07 0.6 0.5 0.1
2014-08 0.5 0.4 0.3
2014-09 0.4 0.3 0.1
2014-10 0.5 0.5 0.0
2014-11 0.4 0.3 -0.2
2014-12 0.1 0.1 -0.1
2015-01 -0.4 -0.4 0.1
2015-02 -0.3 -0.3 0.2
2015-03 0.0 -0.1 0.2
2015-04 0.1 0.1 0.4
2015-05 0.3 0.3 0.5
2015-06 0.3 0.3 0.5
2015-07 0.2 0.2 0.6
2015-08 0.1 0.0 0.5
2015-09 0.1 0.0 0.6
2015-10 0.2 0.1 0.8
2015-11 0.1 0.0 0.9
2015-12 0.3 0.2 1.0
2016-01 0.3 0.2 0.9
2016-02 -0.1 -0.2 0.7
2016-03 -0.1 -0.1 0.7
2016-04 -0.1 -0.2 0.6
2016-05 0.1 0.0 0.7
2016-06 0.3 0.2 0.7
2016-07 0.4 0.2 0.5
2016-08 0.4 0.2 0.4
2016-09 0.5 0.4 0.7
2016-10 0.5 0.4 0.5
2016-11 0.7 0.5 0.5
2016-12 0.8 0.6 0.4
2017-01 1.6 1.3 0.6
2017-02 1.4 1.2 0.2
2017-03 1.4 1.1 0.4
2017-04 1.4 1.2 0.5
2017-05 0.9 0.8 0.3
2017-06 0.8 0.7 0.4
2017-07 0.8 0.7 0.5
2017-08 1.0 0.9 0.5
2017-09 1.1 1.0 0.5
2017-10 1.2 1.1 0.5
2017-11 1.2 1.2 0.6
2017-12 1.2 1.2 0.6
2018-01 1.5 1.3 0.8
2018-02 1.3 1.2 0.8
2018-03 1.7 1.6 0.9
2018-04 1.8 1.6 0.8
2018-05 2.3 2.0 1.0
2018-06 2.3 2.0 0.8
2018-07 2.6 2.3 0.8
2018-08 2.6 2.3 0.9
2018-09 2.5 2.2 0.7
2018-10 2.5 2.2 0.7
2018-11 2.2 1.9 0.6
2018-12 1.9 1.6 0.6
2019-01 1.4 1.2 0.8
2019-02 1.6 1.3 0.8
2019-03 1.3 1.1 0.5
2019-04 1.5 1.3 0.7
2019-05 1.1 0.9 0.5
2019-06 1.4 1.2 0.9
2019-07 1.3 1.1 0.9
2019-08 1.3 1.0 0.7
2019-09 1.1 0.9 0.9
2019-10 0.9 0.8 1.0
2019-11 1.2 1.0 1.0
2019-12 1.6 1.5 1.1
2020-01 1.7 1.5 1.0
2020-02 1.6 1.4 1.3
2020-03 0.8 0.7 0.7
2020-04 0.4 0.3 0.3
2020-05 0.4 0.4 0.6

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

  • Source: INSEE.

More pronounced drop in energy prices

Year on year, the drop in energy prices was stronger: −11.0% in May, after −8.6% in April. It has been their sharpest drop since October 2009. Petroleum product prices fell again: −21.2% year on year, after −17.0% in April. Over a month, they decreased, less than in the previous month (−3.8% after −7.4%), whereas they rose in May 2019 (+1.3%). Gas prices dropped more too: −13.6% year on year, after −13.2% in April. Electricity prices rose by 9.7% year on year, as in the three previous months.

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2020 May 2020 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 104.71 0.1 0.4
Overall SA(1) 10000 104.39 0.0 0.4
Food 1610 109.70 0.5 3.5
Fresh food 230 137.86 2.8 17.3
Other food 1380 105.37 0.1 1.2
Tobacco 205 148.04 0.4 13.9
Manufactured products 2491 98.33 -0.1 -0.7
Clothing and footwear 380 101.03 -1.4 -2.7
Medical products 412 88.25 -0.1 -2.1
Other manufactured products 1699 100.22 0.3 0.1
Energy 808 103.73 -2.1 -11.0
Petroleum products 439 98.26 -3.8 -21.2
Services 4886 105.12 0.4 1.2
Actual rentals and services for dwellings 752 101.80 -0.1 0.2
Health services 604 102.58 -0.4 0.4
Transport 300 99.61 2.3 0.8
Communication 215 97.72 2.6 1.6
Other services 3015 107.68 0.4 1.6
Total except rents and tobacco 9185 104.16 0.2 0.1
Total except tobacco 9795 103.95 0.1 0.1
b) Urban working-class households or households of employees
All products excluding tobacco 9685 103.59 0.1 -0.1
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9685 103.37 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

Slowdown in food prices year on year

In May 2020, food prices slightly slowed down, after the sharp acceleration in the previous month: + 3.5% year on year after +3.7% in April and +1.9% in March. The prices of fresh produces were less dynamic (+17.3% year on year after +17.8%). Those of fresh vegetables (+24.8% year on year after +30.3%) and fresh fish (+10.3% after +19.0%) slowed down, whereas those of fresh fruits were higher (+18.0% year on year after +10.8%).

Excluding fresh produces, food prices also slowed down, to +1.2% year on year after +1.4% in the previous month. The prices of milk, cheese and eggs edged down by 0.2% year on year after +0.1%. Those of flours and other cereals (−2.0% after −1.6%) and of oils and fats (−0.4% after −0.3%) dropped more and those of alcoholic beverages slowed down (+0.3% year on year after +0.5%). Contrariwise, the prices of rice (+0.7% year on year after −0.3%) and sugar (+0.8% after −0.3%) rebounded, and those of preserved fruit and fruit-based products gathered pace (+1.1% after +0.5%).

Accentuated drop in manufactured product prices year on year

Year on year, manufactured product prices dropped by 0.7%, after −0.5% in the previous month. The drop in clothing and footwear prices was more pronounced than that in the previous month (−2.7% year on year after −0.9%). The prices of “other manufactured products” barely rose: +0.1% year on year after a stability in the previous month. The prices of small electric household appliances rebounded (+0.4% after −1.8%) and the drop in those of cleaning products was lesser (−0.6% year on year −0.9%). Contrariwise, the prices of glassware, tableware and household utensils slowed down (+0.6% year on year after +1.3%) and those of the articles for personal hygiene, wellness and beauty products dropped more (−2.5% year on year after −1.3%). Finally, health product prices dropped by 2.1% year on year, after −2.4% in April.

Rise in service inflation

Year on year, service prices sharply accelerated in May, after a marked slowdown in April: +1.2% after +0.6%. Communication service prices rebounded (+1.6% year on year after −1.0%). Strongly affected by the lockdown measures, transport service prices recovered in May (+0.8% year on year after −6.0%, in the wake of airfares (+4.5% year on year after −12.6%). The prices of “other services”, whose consumption has been severely limited by the lockdown measures, gathered pace, to +1.6% year on year after +1.4%. Contrariwise, the prices of housing-related services were a little less dynamic (+0.2% year on year after +0.3%). Finally, health service prices rose by 0.4% year on year, as in the previous month.

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2020 May 2020 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6069 103.10 0.3 0.6
Food excluding fresh products. meat. milk and exotic products 754 103.52 -0.2 0.4
Manufactured products 2032 99.00 -0.4 -0.7
Services including actual rentals and services for dwellings 3283 105.73 0.8 1.4
HICP - All items 10000 105.49 0.2 0.4
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on May 29, 2020, the month-on-month change in the CPI was up by 0.1points, those month-on-month in the HICP and year-on-year in the CPI and in the HICP by 0.2points.

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 adjourned since 16 March: for the concerned products, alternative data collections were carried out (price collection online, by phone, scanner data…). Moreover, a lot of products were not available for sale in May (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/4507212#documentation

Next publication of provisional results: 30 June 2020 at 8:45

Next publication of final results: 16 July 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 adjourned since 16 March: for the concerned products, alternative data collections were carried out (price collection online, by phone, scanner data…). Moreover, a lot of products were not available for sale in May (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/4507212#documentation

Next publication of provisional results: 30 June 2020 at 8:45

Next publication of final results: 16 July 2020 at 8:45


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