15 October 2020
N° 2020-262

In September 2020, consumer prices fell by 0.5% over one month and were stable year on yearConsumer price index - final results - September 2020

Informations rapides
No 262
Paru le : Paru le 15/10/2020
Prochaine parution le : 13/11/2020 at 08:45 - October 2020
Informations rapides  No 262 - October 2020

Monthly change: −0.5% in September; Year-on-year change: 0.0%

In September 2020, the Consumer Price Index (CPI) fell by 0.5% over a month, after –0,1% in August 2020. Service prices declined sharply (–1.5% after +0.3% in August). Those of energy (–0.7% after +0.3%) and food prices (–0.5% after +0.2%) decreased and those of tobacco were stable. Finally, manufactured product prices rebounded strongly (+1.6% after a 1.2% drop in the previous month).

Seasonally adjusted, consumer prices dropped by 0.2% in September, after –0.5% in August.

Year on year, consumer prices were stable, after +0.2% in the previous month. This is the result of a slowdown in service prices and an accentuated decline of those of energy. The prices of tobacco rose less, year on year, than in August (+13.7% after +13.8% in August). Finally, the food prices and those of manufactured product prices evolved at the same rate as in the previous month.

Stability in core inflation year on year

Year on year, core inflation increased, in September, by 0.5% year on year, at the same rate as in the previous month. The Harmonised Index of Consumer Prices (HICP) fell by 0.6% over a month, after –0.1% in the previous month; year on year, it was stable, after +0.2% in August.

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
2020-06 0.2 0.2 0.3
2020-07 0.9 0.8 1.4
2020-08 0.2 0.2 0.5
2020-09 0.0 0.0 0.5

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

  • Source: INSEE.

Slowdown in service prices year on year

Year on year, service prices increased by 0.6% in September, after +0.9% in August 2020. The prices of “other services” slowed down (+1.1% after 1.6%) in connection with the downturn in accommodation service prices (–2.2% after +1.5%), as those of communication services (+1.6% after +1.8%). The prices of transport services fell less than in the previous month (–3.0% after –4.4%) in the wake of airfares (–7.6% after –12.8%). The prices of housing-related services accelerate a bit (+0.3% after +0.2%). Finally, health services prices increased as the same rate than in August (+0.3% year on year).

Accentuated decline in energy prices year on year

Year on year, the drop in energy prices amplified: −8.0% in September, after −7.1% in August. Petroleum product prices fell more than in the previous month (–14.7% year on year after –12.7% in August) unlike those of gas those of gas (–10.9% after –11.9%). Electricity prices increased at the same rate as in the previous month (+3.9%).

Stable growth in food prices year on year

In September 2020, food prices increased at the same rate as in the previous month (+0.9%). The prices of fresh food produces were more dynamic than in the previous month (+2.3% after +1.5%) in link with those of fresh fruits (+8.8% after +8.5%). The prices of fresh vegetables fell in a less marked way (–1.7% after –3.7%) and those of fresh fishes were stable (0.0% after –0.4%). Excluding fresh produces, food prices slowed down to +0.7% after +0.8% in the previous month. The prices of meat slowed down (+1.9% after +2.0%) and those of sugar, jam, honey, chocolate and confectionery decreased more strongly than in the previous month (–0.6% after –0.1%). The prices of alcoholic beverages increased to 0.9% after +1.2% in August.

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2020 September 2020 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 104.55 -0.5 0.0
Overall SA(1) 10000 104.53 -0.2 0.0
Food 1610 107.57 -0.5 0.9
Fresh food 230 122.26 -1.7 2.3
Other food 1380 105.24 -0.3 0.7
Tobacco 205 148.19 0.0 13.7
Manufactured products 2491 98.39 1.6 -0.2
Clothing and footwear 380 101.52 9.1 -1.3
Medical products 412 88.10 0.0 -1.9
Other manufactured products 1699 100.25 0.4 0.5
Energy 808 106.26 -0.7 -8.0
Petroleum products 439 102.27 -1.4 -14.7
Services 4886 105.08 -1.5 0.6
Actual rentals and services for dwellings 752 101.81 0.0 0.3
Health services 604 102.46 0.0 0.3
Transport 300 96.01 -9.4 -3.0
Communication 215 98.46 0.5 1.6
Other services 3015 107.94 -1.6 1.1
Total except rents and tobacco 9185 103.98 -0.6 -0.3
Total except tobacco 9795 103.80 -0.5 -0.2
b) Urban working-class households or households of employees
All products excluding tobacco 9685 103.55 -0.3 -0.2
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9685 103.13 -0.4 -0.4
  • (1) seasonally adjusted
  • (2) : [m/(m-1)]
  • (3) : [m/(m-12)]
  • Geographical coverage: France (Mayotte excluded) 
  • Source : INSEE – Consumer Price Indices

Same decrease in manufactured product prices year on year as in August

Year on year, manufactured product prices fell by 0.2% as in the previous month. Clothing and footwear prices dropped less than in the previous month (–1.3% year on year after –1.7% in August and –1.3% in June before the delayed sales this year) and those of “other manufactured products” accelerate a bit (+0.5% after +0.4% in August and –0,1% in June). The prices of new motors increased (+0.2% after +0.1% in August) as those of games and hobbies (+1.2% after +0.1%) and information processing equipment (+0.6% after –1.6%). The prices of household furniture (+2.4% after +2.6%), those of major household appliances (0.0% after +0.4%), and those of glassware, tableware and household utensils (+0.5% after +0.6%) slowed down. Finally, health product prices fell less than in the previous month (−1.9% year-on-year, after −2.0% in August).

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2020 September 2020 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6069 103.35 0.0 0.5
Food excluding fresh products. meat. milk and exotic products 754 103.59 -0.2 0.3
Manufactured products 2032 99.61 0.3 0.0
Services including actual rentals and services for dwellings 3283 105.83 0.0 0.8
HICP - All items 10000 105.30 -0.6 0.0
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on September 30, 2020, the month-on-month change in the CPI has been confirmed and the year-on-year change has been revised downwards by 0.1 point. The month-on-month and year-on-year changes in the HICP have been confirmed.

For further information

The COVID-19 health crisis affected the quality of the April, May and June indices (and to a lesser extent March). If the prices collected by INSEE collectors in physical outlets have resumed since 15 June, the structure of household consumption has been modified by the crisis and some few products were still unavailable for sale.

For further information: https://insee.fr/en/statistiques/4802031#documentation

Next publication of final results: 13 November 2020 at 8:45

The COVID-19 health crisis affected the quality of the April, May and June indices (and to a lesser extent March). If the prices collected by INSEE collectors in physical outlets have resumed since 15 June, the structure of household consumption has been modified by the crisis and some few products were still unavailable for sale.

For further information: https://insee.fr/en/statistiques/4802031#documentation

Next publication of final results: 13 November 2020 at 8:45


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