Insee
Informations Rapides · 15 June 2023 · n° 147
Informations rapidesIn 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

Informations rapides
No 147
Paru le :Paru le15/06/2023
Prochaine parution le : 15/12/2023 at 08:45 - November 2023

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.

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
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

Consumer 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%).

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
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%).

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
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

Pour en savoir plus

Next publication of final results: 13 July 2023 at 8:45

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