Informations Rapides ·
15 June 2023 · n° 147
In May 2023, consumer prices fell back slightly over one month (‑0.1%) and increased
by 5.1% year on year Consumer price index - final results - May 2023
- Monthly change: ‑0.1% in May; year-on-year change: +5.1%
- Smaller core inflation year on year
- Slowdown in energy prices year on year
- Slowdown in food prices year on year
- Smaller inflation in manufactured goods year on year
- Slight slowdown in service prices year on year
- Revisions
- For further information
Monthly change: ‑0.1% in May; year-on-year change: +5.1%
In May 2023, the Consumer Price Index (CPI) declined by 0.1% over one month, after +0.6% in April. The decrease in energy prices accentuated (‑3.0% after ‑0.7%) in the wake of petroleum product prices (‑5.9% after ‑0.6%). The prices of food slowed down (+0.3% after +0.6%), as did those of services (+0.3% after +1.0%) linked with the downturn in transport service prices (‑2.3% after +8.1%) and the smaller rise in those of “other services” (+0.6% after +0.8%). The prices of manufactured goods were stable between April and May 2023 (+0.0% after +0.3%).
Seasonally adjusted, consumer prices declined by 0.2% in May 2023, after +0.6% in April.
Year on year, consumer prices grew by 5.1% in May 2023, after +5.9% in April. This decrease in inflation resulted from a year-on-year slowdown in prices of energy (+2.0% after +6.8%), food (+14.3% after +15.0%), manufactured goods (+4.1% after +4.6%) and services (+3.0% after +3.2%). Conversely, the prices of tobacco accelerated for the third consecutive month (+9.8% after +9.4%).
Smaller core inflation year on year
Year on year, core inflation decreased, reaching +5.8% in May 2023, after +6.3% in April.
The Harmonised Index of Consumer Prices (HICP) declined by 0.1% in May 2023 over one month, after +0.7% in the previous month; year on year, it increased by 6.0%, after +6.9% in April.
tableauConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
| HICP | CPI | ISJ | |
|---|---|---|---|
| 2023-05 | 6.0 | 5.1 | 5.8 |
| 2023-04 | 6.9 | 5.9 | 6.3 |
| 2023-03 | 6.7 | 5.7 | 6.2 |
| 2023-02 | 7.3 | 6.3 | 6.1 |
| 2023-01 | 7.0 | 6.0 | 5.6 |
| 2022-12 | 6.7 | 5.9 | 5.3 |
| 2022-11 | 7.1 | 6.2 | 5.3 |
| 2022-10 | 7.1 | 6.2 | 5.0 |
| 2022-09 | 6.2 | 5.6 | 4.5 |
| 2022-08 | 6.6 | 5.9 | 4.7 |
| 2022-07 | 6.8 | 6.1 | 4.3 |
| 2022-06 | 6.5 | 5.8 | 3.7 |
| 2022-05 | 5.8 | 5.2 | 3.7 |
| 2022-04 | 5.4 | 4.8 | 3.3 |
| 2022-03 | 5.1 | 4.5 | 2.6 |
| 2022-02 | 4.2 | 3.6 | 2.5 |
| 2022-01 | 3.3 | 2.9 | 1.7 |
| 2021-12 | 3.4 | 2.8 | 1.9 |
| 2021-11 | 3.4 | 2.8 | 1.6 |
| 2021-10 | 3.2 | 2.6 | 1.4 |
| 2021-09 | 2.7 | 2.2 | 1.3 |
| 2021-08 | 2.4 | 1.9 | 1.3 |
| 2021-07 | 1.5 | 1.2 | 0.2 |
| 2021-06 | 1.9 | 1.5 | 1.1 |
| 2021-05 | 1.8 | 1.4 | 1.0 |
| 2021-04 | 1.6 | 1.2 | 1.0 |
| 2021-03 | 1.4 | 1.1 | 0.9 |
| 2021-02 | 0.8 | 0.6 | 0.4 |
| 2021-01 | 0.8 | 0.6 | 0.9 |
| 2020-12 | 0.0 | 0.0 | 0.2 |
| 2020-11 | 0.2 | 0.2 | 0.4 |
| 2020-10 | 0.1 | 0.0 | 0.3 |
| 2020-09 | 0.0 | 0.0 | 0.5 |
| 2020-08 | 0.2 | 0.2 | 0.5 |
| 2020-07 | 0.9 | 0.8 | 1.4 |
| 2020-06 | 0.2 | 0.2 | 0.3 |
| 2020-05 | 0.4 | 0.4 | 0.6 |
| 2020-04 | 0.4 | 0.3 | 0.3 |
| 2020-03 | 0.8 | 0.7 | 0.7 |
| 2020-02 | 1.6 | 1.4 | 1.3 |
| 2020-01 | 1.7 | 1.5 | 0.9 |
| 2019-12 | 1.6 | 1.5 | 1.1 |
| 2019-11 | 1.2 | 1.0 | 0.9 |
| 2019-10 | 0.9 | 0.8 | 1.0 |
| 2019-09 | 1.1 | 0.9 | 0.9 |
| 2019-08 | 1.3 | 1.0 | 0.7 |
| 2019-07 | 1.3 | 1.1 | 0.9 |
| 2019-06 | 1.4 | 1.2 | 0.9 |
| 2019-05 | 1.1 | 0.9 | 0.5 |
| 2019-04 | 1.5 | 1.3 | 0.7 |
| 2019-03 | 1.3 | 1.1 | 0.5 |
| 2019-02 | 1.6 | 1.3 | 0.7 |
| 2019-01 | 1.4 | 1.2 | 0.6 |
| 2018-12 | 1.9 | 1.6 | 0.7 |
| 2018-11 | 2.2 | 1.9 | 0.7 |
| 2018-10 | 2.5 | 2.2 | 0.8 |
| 2018-09 | 2.5 | 2.2 | 0.7 |
| 2018-08 | 2.6 | 2.3 | 0.9 |
| 2018-07 | 2.6 | 2.3 | 0.8 |
| 2018-06 | 2.3 | 2.0 | 0.8 |
| 2018-05 | 2.3 | 2.0 | 1.0 |
| 2018-04 | 1.8 | 1.6 | 0.9 |
| 2018-03 | 1.7 | 1.6 | 0.9 |
| 2018-02 | 1.3 | 1.2 | 0.7 |
| 2018-01 | 1.5 | 1.3 | 0.8 |
| 2017-12 | 1.2 | 1.2 | 0.6 |
| 2017-11 | 1.2 | 1.2 | 0.5 |
| 2017-10 | 1.2 | 1.1 | 0.5 |
| 2017-09 | 1.1 | 1.0 | 0.5 |
| 2017-08 | 1.0 | 0.9 | 0.5 |
| 2017-07 | 0.8 | 0.7 | 0.5 |
| 2017-06 | 0.8 | 0.7 | 0.4 |
| 2017-05 | 0.9 | 0.8 | 0.3 |
| 2017-04 | 1.4 | 1.2 | 0.5 |
| 2017-03 | 1.4 | 1.1 | 0.4 |
| 2017-02 | 1.4 | 1.2 | 0.2 |
| 2017-01 | 1.6 | 1.3 | 0.6 |
| 2016-12 | 0.8 | 0.6 | 0.4 |
| 2016-11 | 0.7 | 0.5 | 0.6 |
| 2016-10 | 0.5 | 0.4 | 0.5 |
| 2016-09 | 0.5 | 0.4 | 0.7 |
| 2016-08 | 0.4 | 0.2 | 0.4 |
| 2016-07 | 0.4 | 0.2 | 0.5 |
| 2016-06 | 0.3 | 0.2 | 0.7 |
| 2016-05 | 0.1 | 0.0 | 0.7 |
| 2016-04 | -0.1 | -0.2 | 0.6 |
| 2016-03 | -0.1 | -0.1 | 0.7 |
| 2016-02 | -0.1 | -0.2 | 0.7 |
| 2016-01 | 0.3 | 0.2 | 0.9 |
| 2015-12 | 0.3 | 0.2 | 1.0 |
| 2015-11 | 0.1 | 0.0 | 0.9 |
| 2015-10 | 0.2 | 0.1 | 0.8 |
| 2015-09 | 0.1 | 0.0 | 0.6 |
| 2015-08 | 0.1 | 0.0 | 0.5 |
| 2015-07 | 0.2 | 0.2 | 0.6 |
| 2015-06 | 0.3 | 0.3 | 0.6 |
| 2015-05 | 0.3 | 0.3 | 0.5 |
| 2015-04 | 0.1 | 0.1 | 0.4 |
| 2015-03 | 0.0 | -0.1 | 0.2 |
| 2015-02 | -0.3 | -0.3 | 0.2 |
| 2015-01 | -0.4 | -0.4 | 0.1 |
| 2014-12 | 0.1 | 0.1 | -0.1 |
| 2014-11 | 0.4 | 0.3 | -0.2 |
| 2014-10 | 0.5 | 0.5 | 0.0 |
| 2014-09 | 0.4 | 0.3 | 0.1 |
| 2014-08 | 0.5 | 0.4 | 0.3 |
| 2014-07 | 0.6 | 0.5 | 0.1 |
| 2014-06 | 0.6 | 0.5 | 0.1 |
| 2014-05 | 0.8 | 0.7 | 0.3 |
| 2014-04 | 0.8 | 0.7 | 0.5 |
| 2014-03 | 0.8 | 0.6 | 0.5 |
| 2014-02 | 1.1 | 0.9 | 0.8 |
| 2014-01 | 0.8 | 0.6 | 0.2 |
graphiqueConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
- Source: INSEE
Slowdown in energy prices year on year
Year on year, the prices of energy slowed down in May 2023 (+2.0% after +6.8%). The decrease in petroleum product prices was more marked than in the previous month (‑9.7% after ‑1.3%), notably for diesel prices (‑11.3% after ‑3.6%) and liquid fuel prices (‑24.6% after ‑15.2%). The prices of petrol fell back over a year (‑2.4% after +7.9%). The prices of gas slowed down slightly (+21.6% after +22.9%), those of electricity increased at a rate comparable to that of the previous month (+11.3% after +11.2%) and those of solid fuel accelerated in May 2023 (+32.9% after +31.9%).
Slowdown in food prices year on year
Year on year, food prices rose by 14.3% in May 2023, after +15.0% in April. Excluding fresh products, food prices slowed down for the first time since September 2021 (+14.9% after +15.8%). The increase in prices of bread and cereals softened (+14.8% after +15.8%), as did that of meat (+13.4% after +14.9%), milk, cheese and eggs (+20.7% after +21.5%) and oils and fats (+20.3% after +27.0%). The prices of non-alcoholic beverages (+13.9%) and alcoholic beverages (+8.7%) increased at the same rate than in the previous month. Contrariwise, those of sugar, jam, honey, chocolate and confectionery accelerated (+16.8% after +16.3%). The prices of fresh products increased at a rate comparable to that of April (+10.7% after +10.6%). The prices of fresh fruits (+7.0% after +9.5%) and fresh fish (+4.9% after +10.1%) slowed down while those of fresh vegetables accelerated (+18.0% after +12.1%).
tableauDetailed figures for various groups
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2023 | May 2023 | m-on-m change (2) | y-on-y change (3) | |
| a) All households | ||||
| Overall | 10000 | 117.44 | -0.1 | 5.1 |
| Overall SA(1) | 10000 | 117.26 | -0.2 | 5.2 |
| Food | 1624 | 130.38 | 0.3 | 14.3 |
| Fresh food | 238 | 151.22 | -1.3 | 10.7 |
| Other food | 1386 | 127.10 | 0.6 | 14.9 |
| Tobacco | 185 | 171.06 | 0.3 | 9.8 |
| Manufactured products | 2322 | 105.40 | 0.0 | 4.1 |
| Clothing and footwear | 341 | 107.72 | 0.5 | 2.6 |
| Medical products | 384 | 85.65 | -0.4 | -0.6 |
| Other manufactured products | 1597 | 110.06 | 0.0 | 5.6 |
| Energy | 857 | 151.08 | -3.0 | 2.0 |
| of which petroleum products | 432 | 144.84 | -5.9 | -9.7 |
| Services | 5012 | 112.86 | 0.3 | 3.0 |
| Rents, water and household refuse collection | 744 | 107.95 | 0.2 | 2.7 |
| Health services | 639 | 101.68 | 0.0 | -0.5 |
| Transport | 301 | 122.57 | -2.3 | 8.0 |
| Communication | 208 | 100.16 | 0.2 | -1.3 |
| Other services | 3120 | 117.23 | 0.6 | 3.7 |
| Total except rents and tobacco | 9219 | 117.40 | -0.1 | 5.2 |
| Total except tobacco | 9815 | 116.54 | -0.1 | 5.0 |
| b) Urban working-class households or households of employees | ||||
| All products excluding tobacco | 9718 | 115.85 | -0.1 | 4.9 |
| c) Households in the first quintile of the living standards distribution | ||||
| All products excluding tobacco | 9700 | 116.56 | -0.2 | 5.3 |
- (1) seasonally adjusted
- (2) : [m/(m-1)]
- (3) : [m/(m-12)]
- Geographical coverage: France
- Source : INSEE – Consumer Price Indices
Smaller inflation in manufactured goods year on year
Year on year, manufactured good prices increased by 4.1% in May 2023, after +4.6% in April. The prices of clothing and footwear slowed down (+2.6% after +2.7%), as did those of “other manufactured goods” (+5.6% after +6.2%). The prices of furniture and furnishings slowed down also (+7.3% after +8.4%), as did those of glassware, tableware and household utensils (+9.1% after +9.9%), major household appliances (+2.6% after +5.0%) and vehicles (+4.6% after +5.8%). Contrariwise, the prices of cleaning and maintenance products accelerated (+13.9% after +13.6%), as did those of articles and products for personal care (+9.6% after +9.1%) and equipment for camping and open-air recreation (+8.5% after +8.2%). Finally, the decrease in health product prices accentuated slightly (‑0.6% after ‑0.5%).
Slight slowdown in service prices year on year
Year on year, service prices rose by 3.0% in May 2023, after +3.2% in April. The prices of “other services” slowed down (+3.7% after +3.9%), notably those of services for the maintenance and repair of the dwelling (+5.8% after +6.3%) and personal transport equipment (+8.7% after +9.2%), accommodation services (+4.8% after +6.8%), package holidays (+17.6% after +19.8%) and insurance services (+1.8% after +2.1%). The prices of transport services decelerated also (+8.0% after +9.6%), notably airfares (+16.3% after +22.6%) and transport by road (+6.3% after +6.5%). Prices of housing-related services slowed down also (+2.7% after +3.1%). Finally, the prices of health prices declined at the same rate than in the previous month (‑0.5%) and the decrease in communication service prices reduced slightly (‑1.3% after ‑1.5%).
tableauDetailed figures for Core inflation and HICP
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2023 | May 2023 | m-on-m change (1) | y-on-y change (2) | |
| Core inflation - All items | 6057 | 114.11 | 0.1 | 5.8 |
| Food excluding fresh products, meat, milk and exotic products | 766 | 122.90 | 0.6 | 13.9 |
| Manufactured products | 1899 | 108.66 | -0.1 | 5.1 |
| Services including actual rentals and services for dwellings | 3392 | 115.54 | 0.0 | 4.3 |
| HICP - All items | 10000 | 120.46 | -0.1 | 6.0 |
- (1) : [m/(m-1)]
- (2) : [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Revisions
Compared to the provisional estimates published on 31 May 2023, the month-on-month and year-on-year changes in CPI and HICP have been confirmed.
For further information
Next publication of final results: 13 July 2023 at 8:45
Documentation
CPI: methodological changes for 2023 (pdf,188 Ko)
Abbreviated Methodology (pdf,131 Ko)
Pour en savoir plus
Next publication of final results: 13 July 2023 at 8:45