Insee
Informations Rapides · 13 August 2021 · n° 208
Informations rapidesIn July 2021, consumer prices rose by 0.1% over one month and by 1.2% year on yearConsumer price index - final results - July 2021

Informations rapides
No 208
Paru le : Paru le 13/08/2021
Prochaine parution le : 16/11/2021 at 08:45 - October 2021
Warning

The health crisis due to the Covid-19 impacted the quality of the data: price collection on the field has been progressively adjourned since the end of March 2021 with the lockdown of the different territories until the end of May 2021; moreover, certain products were unavailable for sale. Additional information is available in “For further information”.

Monthly change: +0.1% in July; year-on-year change: +1.2%

In July 2021, the Consumer Price Index (CPI) rose by 0.1% over one month, as in June. The prices of services accelerated at +0.7% after +0.1%, as well of those of energy (+2.2% after +1.1%). The food prices rebounded (+0.1% after −0.7%). The prices of manufactured goods dropped (−1.8% after +0.5%) as well as of tobacco prices to a lesser extent (−0.2% after being stable in June).

Seasonally adjusted, consumer prices rose by 0.4% in July, after +0.2% in June.

Year on year, consumer prices slowed down to 1.2%, after +1.5% in June. This decline in inflation was driven by the fall back of the prices of manufactured goods (−1.1% after +0.7%), linked to the postponed summer sales, the decrease of the prices of services (+0.6% after +0.8%) and of those of tobacco (+5.1% after +5.3%). Contrariwise, the prices of energy accelerated (+12.3% after +10.9%) and those of food rebounded (+0.9% after −0.2%).

Decrease in core inflation year on year

Year on year, core inflation fell in July, down to +0.4%, after +1.1% in June. The Harmonised Index of Consumer Prices (HICP) rose by 0.1% over one month after +0.2% in the previous month; year-on-year, it increased by 1.5%, after +1.9% in June.

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 0.6
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 0.6
2016-12 0.8 0.6 0.4
2017-01 1.6 1.3 0.6
2017-02 1.4 1.2 0.1
2017-03 1.4 1.1 0.4
2017-04 1.4 1.2 0.5
2017-05 0.9 0.8 0.4
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 0.5
2017-12 1.2 1.2 0.6
2018-01 1.5 1.3 0.8
2018-02 1.3 1.2 0.7
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 0.8
2018-11 2.2 1.9 0.7
2018-12 1.9 1.6 0.7
2019-01 1.4 1.2 0.6
2019-02 1.6 1.3 0.6
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 0.8
2019-08 1.3 1.0 0.7
2019-09 1.1 0.9 0.9
2019-10 0.9 0.8 0.9
2019-11 1.2 1.0 0.9
2019-12 1.6 1.5 1.0
2020-01 1.7 1.5 1.0
2020-02 1.6 1.4 1.3
2020-03 0.8 0.7 0.8
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 1.3
2020-08 0.2 0.2 0.5
2020-09 0.0 0.0 0.5
2020-10 0.1 0.0 0.3
2020-11 0.2 0.2 0.4
2020-12 0.0 0.0 0.1
2021-01 0.8 0.6 1.0
2021-02 0.8 0.6 0.6
2021-03 1.4 1.1 0.8
2021-04 1.6 1.2 1.0
2021-05 1.8 1.4 0.9
2021-06 1.9 1.5 1.1
2021-07 1.5 1.2 0.4

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

  • Source: INSEE.

Year-on-year downturn in the prices of manufactured goods

Year on year, manufactured products decreased by 1.1%, after +0.7% the previous month. This downturn is linked with the one in the clothing and footwear prices (−7.1% after +2.9%) and the stability of “other manufactured goods” prices (after +0.6%), due to the postponed summer sales. The prices of bedroom furniture (+1.4% after +2.4%), and those of jewellery (+4.7% after +8.9%) slowed down. The prices of makeup and skincare products (−0.8% after +2.0%) and those of travel goods (−0.9% after +4.0%) fell back. The decline in prices of major household appliance (−2.7% after −0.5%), mobile telephones (−5.2% after −0.2%) and information processing equipment (−3.4% after −2.7%) was steeper than in the previous month. However, the prices of new motor cars increased (+3.4% after +0.2%). Finally, the decrease in health products prices was greater than in the previous month (−0.8% year on year, after −0.7% in June).

Slight slowdown in service prices year on year

Year on year, service prices slowed down in July: +0.6%, after +0.8%. Communication services prices (+3.0% after +3.5%) and those of “other services” decelerated (+0.8% after +1.1%). Health services prices (−0.8% after −0.6%) fell further. However, this decline is limited by the rebound in transport prices (+2.0% after −0.8%), in particular in airfares (+1.3% after −10.8%). Finally, the prices of housing-related services increased at the same pace as in June (+1.1% year on year).

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2021 July 2021 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 106.4 0.1 1.2
Overall SA(1) 10000 106.51 0.4 1.3
Food 1785 108.77 0.1 0.9
Fresh food 261 128.05 0.3 3.8
Other food 1524 105.76 0.1 0.4
Tobacco 243 155.71 -0.2 5.1
Manufactured products 2501 96.93 -1.8 -1.1
Clothing and footwear 354 92.64 -9.7 -7.1
Medical products 438 87.4 -0.1 -0.8
Other manufactured products 1709 100.09 -0.6 0
Energy 746 119.77 2.2 12.3
Petroleum products 343 121.57 2.2 16.5
Services 4725 107.08 0.7 0.6
Actual rentals and services for dwellings 853 102.9 0.1 1.1
Health services 647 102.18 0 -0.8
Transport 172 111.7 7.5 2
Communication 243 100.72 -0.4 3
Other services 2810 109.59 0.7 0.8
Total except rents and tobacco 9062 105.8 0.1 1.1
Total except tobacco 9757 105.55 0.1 1.1
b) Urban working-class households or households of employees
All products excluding tobacco 9632 105.1 -0.1 1.1
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9624 105.01 0 1.1
  • (1) seasonally adjusted
  • (2) : [m/(m-1)]
  • (3) : [m/(m-12)]
  • Geographical coverage: France (Mayotte excluded) 
  • Source: INSEE – Consumer Price Indices

Acceleration in energy prices year on year

Year on year, the energy prices accelerated in July (+12.3% after +10.9%). The gas prices rose considerably (+27.8% after +16.7%) and the prices of petroleum products increased slightly more than in June (+16.5% after +16.4%). The electricity prices rose at the same rate as in June (+3.1%).

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2021 July 2021 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6008 104.51 0.3 0.4
Food excluding fresh products. meat. milk and exotic products 841 103.85 0.1 0.1
Manufactured products 2011 100.42 0.8 -1.6
Services including actual rentals and services for dwellings 3156 107.54 0.2 1.7
HICP - All items 10000 107.64 0.1 1.5
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Rebound in food prices

In July, food prices rose by 0.9%, after −0.2% in June. The price of fresh food produces rebounded sharply (+3.8% after −2.8%), driven by the rebound of fresh fish prices (+4.3% after −4.8%) and fresh vegetables prices (+5.2% after −6.3%) and the acceleration of fresh fruits prices (+3.1% after +0.1%). Excluding fresh produces, food prices rose by 0.4% year-on-year, after +0.3% in June.

Revisions

Compared to the provisional estimates published on July 30, 2021, the month-on-month changes in CPI and HICP and the year-on-year changes in CPI have been confirmed. The year-on-year changes in HICP were down by 0.1 points.

For further information

The price collection carried out by collectors on the field was adjourned with the beginning of lockdown, from the 16th March to the 15th June 2020, in November and December 2020 and progressively since the end of March 2021 until the end of May 2021. Despite the introduction of alternative collection methods (price collection online, telephone collection, scanner data), the quality of the indices was affected. Therefore, the level of the indices, the month-on-month rate and particularly the year-on-year rate should be considered cautiously. The missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines. In July 2021, this imputation rate due to Covid-19 is about 2% after 3% in June. In July 2020, the imputation rate was about 1%.

Next publication of final results: 15 September 2021 at 8:45

Documentation

Abbreviated Methodology (pdf, 131 Ko)

Methodology (pdf, 141 Ko)

Pour en savoir plus

The price collection carried out by collectors on the field was adjourned with the beginning of lockdown, from the 16th March to the 15th June 2020, in November and December 2020 and progressively since the end of March 2021 until the end of May 2021. Despite the introduction of alternative collection methods (price collection online, telephone collection, scanner data), the quality of the indices was affected. Therefore, the level of the indices, the month-on-month rate and particularly the year-on-year rate should be considered cautiously. The missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines. In July 2021, this imputation rate due to Covid-19 is about 2% after 3% in June. In July 2020, the imputation rate was about 1%.

Next publication of final results: 15 September 2021 at 8:45

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