Informations Rapides ·
15 November 2023 · n° 286
In October 2023, consumer prices increased by 0.1% over one month and by 4.0% year
on year Consumer price index - final results - October 2023
- Monthly change: +0.1% in October; year-on-year change: +4.0%
- Decline of core inflation year on year
- Strong slowdown in energy prices year on year
- The year-on-year slowdown in food prices went on
- Slight slowdown in manufactured product prices year on year
- Service prices accelerated year on year
- Revisions
- For further information
Monthly change: +0.1% in October; year-on-year change: +4.0%
In October 2023, the Consumer Price Index (CPI) increased by 0.1% over one month, after ‑0.5% in September. This increase is mainly due to the rebound in the prices of services (+0.3% after ‑1.6%), notably those of transports (+4.1% after ‑11.6%). The prices of manufactured products slowed down (+0.2% after +0.7%). Those of energy decreased over one month (‑0.5% after +2.0%) notably those of petroleum products (‑1.7% after +3.2%). The prices of food were stable over one month (+0.0% after ‑0.3%).
Seasonally adjusted, consumer prices declined by 0.1% over a month in October 2023, after +0.3% in September.
Year on year, consumer prices went up by 4.0% in October 2023, after +4.9% in September. This decrease of inflation resulted from the strong slowdown over a year in energy prices (+5.2% after +11.9%) and a further slowdown of the prices of food (+7.8% after +9.7%) and manufactured products (+2.2% after +2.8%). The prices of services accelerated (+3.2% after +2.9%). The inflation in tobacco was stable, compared to the previous month (+9.9%).
Decline of core inflation year on year
Year on year, core inflation decreased, reaching +4.2% in October 2023, after +4.6% in September.
The Harmonised Index of Consumer Prices (HICP) rebounded over one month (+0.2% after ‑0.6% in September); year on year, it increased by 4.5% in October 2023, after +5.7% in the previous month.
tableauConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
| ISJ | CPI | HICP | |
|---|---|---|---|
| 2023-10 | 4.2 | 4.0 | 4.5 |
| 2023-09 | 4.6 | 4.9 | 5.7 |
| 2023-08 | 4.6 | 4.9 | 5.7 |
| 2023-07 | 5.0 | 4.3 | 5.1 |
| 2023-06 | 5.7 | 4.5 | 5.3 |
| 2023-05 | 5.8 | 5.1 | 6.0 |
| 2023-04 | 6.3 | 5.9 | 6.9 |
| 2023-03 | 6.2 | 5.7 | 6.7 |
| 2023-02 | 6.1 | 6.3 | 7.3 |
| 2023-01 | 5.6 | 6.0 | 7.0 |
| 2022-12 | 5.3 | 5.9 | 6.7 |
| 2022-11 | 5.3 | 6.2 | 7.1 |
| 2022-10 | 5.0 | 6.2 | 7.1 |
| 2022-09 | 4.5 | 5.6 | 6.2 |
| 2022-08 | 4.7 | 5.9 | 6.6 |
| 2022-07 | 4.3 | 6.1 | 6.8 |
| 2022-06 | 3.7 | 5.8 | 6.5 |
| 2022-05 | 3.7 | 5.2 | 5.8 |
| 2022-04 | 3.3 | 4.8 | 5.4 |
| 2022-03 | 2.6 | 4.5 | 5.1 |
| 2022-02 | 2.5 | 3.6 | 4.2 |
| 2022-01 | 1.7 | 2.9 | 3.3 |
| 2021-12 | 1.9 | 2.8 | 3.4 |
| 2021-11 | 1.6 | 2.8 | 3.4 |
| 2021-10 | 1.4 | 2.6 | 3.2 |
| 2021-09 | 1.3 | 2.2 | 2.7 |
| 2021-08 | 1.3 | 1.9 | 2.4 |
| 2021-07 | 0.2 | 1.2 | 1.5 |
| 2021-06 | 1.1 | 1.5 | 1.9 |
| 2021-05 | 1.0 | 1.4 | 1.8 |
| 2021-04 | 1.0 | 1.2 | 1.6 |
| 2021-03 | 0.9 | 1.1 | 1.4 |
| 2021-02 | 0.4 | 0.6 | 0.8 |
| 2021-01 | 0.9 | 0.6 | 0.8 |
| 2020-12 | 0.2 | 0.0 | 0.0 |
| 2020-11 | 0.4 | 0.2 | 0.2 |
| 2020-10 | 0.3 | 0.0 | 0.1 |
| 2020-09 | 0.5 | 0.0 | 0.0 |
| 2020-08 | 0.5 | 0.2 | 0.2 |
| 2020-07 | 1.4 | 0.8 | 0.9 |
| 2020-06 | 0.3 | 0.2 | 0.2 |
| 2020-05 | 0.6 | 0.4 | 0.4 |
| 2020-04 | 0.3 | 0.3 | 0.4 |
| 2020-03 | 0.7 | 0.7 | 0.8 |
| 2020-02 | 1.3 | 1.4 | 1.6 |
| 2020-01 | 0.9 | 1.5 | 1.7 |
| 2019-12 | 1.1 | 1.5 | 1.6 |
| 2019-11 | 0.9 | 1.0 | 1.2 |
| 2019-10 | 1.0 | 0.8 | 0.9 |
| 2019-09 | 0.9 | 0.9 | 1.1 |
| 2019-08 | 0.7 | 1.0 | 1.3 |
| 2019-07 | 0.9 | 1.1 | 1.3 |
| 2019-06 | 0.9 | 1.2 | 1.4 |
| 2019-05 | 0.5 | 0.9 | 1.1 |
| 2019-04 | 0.7 | 1.3 | 1.5 |
| 2019-03 | 0.5 | 1.1 | 1.3 |
| 2019-02 | 0.7 | 1.3 | 1.6 |
| 2019-01 | 0.6 | 1.2 | 1.4 |
| 2018-12 | 0.7 | 1.6 | 1.9 |
| 2018-11 | 0.7 | 1.9 | 2.2 |
| 2018-10 | 0.8 | 2.2 | 2.5 |
| 2018-09 | 0.7 | 2.2 | 2.5 |
| 2018-08 | 0.9 | 2.3 | 2.6 |
| 2018-07 | 0.8 | 2.3 | 2.6 |
| 2018-06 | 0.8 | 2.0 | 2.3 |
| 2018-05 | 1.0 | 2.0 | 2.3 |
| 2018-04 | 0.9 | 1.6 | 1.8 |
| 2018-03 | 0.9 | 1.6 | 1.7 |
| 2018-02 | 0.7 | 1.2 | 1.3 |
| 2018-01 | 0.8 | 1.3 | 1.5 |
| 2017-12 | 0.6 | 1.2 | 1.2 |
| 2017-11 | 0.5 | 1.2 | 1.2 |
| 2017-10 | 0.5 | 1.1 | 1.2 |
| 2017-09 | 0.5 | 1.0 | 1.1 |
| 2017-08 | 0.5 | 0.9 | 1.0 |
| 2017-07 | 0.5 | 0.7 | 0.8 |
| 2017-06 | 0.4 | 0.7 | 0.8 |
| 2017-05 | 0.3 | 0.8 | 0.9 |
| 2017-04 | 0.5 | 1.2 | 1.4 |
| 2017-03 | 0.4 | 1.1 | 1.4 |
| 2017-02 | 0.2 | 1.2 | 1.4 |
| 2017-01 | 0.6 | 1.3 | 1.6 |
| 2016-12 | 0.4 | 0.6 | 0.8 |
| 2016-11 | 0.6 | 0.5 | 0.7 |
| 2016-10 | 0.5 | 0.4 | 0.5 |
| 2016-09 | 0.7 | 0.4 | 0.5 |
| 2016-08 | 0.4 | 0.2 | 0.4 |
| 2016-07 | 0.5 | 0.2 | 0.4 |
| 2016-06 | 0.7 | 0.2 | 0.3 |
| 2016-05 | 0.7 | 0.0 | 0.1 |
| 2016-04 | 0.6 | -0.2 | -0.1 |
| 2016-03 | 0.7 | -0.1 | -0.1 |
| 2016-02 | 0.7 | -0.2 | -0.1 |
| 2016-01 | 0.9 | 0.2 | 0.3 |
| 2015-12 | 1.0 | 0.2 | 0.3 |
| 2015-11 | 0.9 | 0.0 | 0.1 |
| 2015-10 | 0.8 | 0.1 | 0.2 |
| 2015-09 | 0.6 | 0.0 | 0.1 |
| 2015-08 | 0.5 | 0.0 | 0.1 |
| 2015-07 | 0.6 | 0.2 | 0.2 |
| 2015-06 | 0.6 | 0.3 | 0.3 |
| 2015-05 | 0.5 | 0.3 | 0.3 |
| 2015-04 | 0.4 | 0.1 | 0.1 |
| 2015-03 | 0.2 | -0.1 | 0.0 |
| 2015-02 | 0.2 | -0.3 | -0.3 |
| 2015-01 | 0.1 | -0.4 | -0.4 |
| 2014-12 | -0.1 | 0.1 | 0.1 |
| 2014-11 | -0.2 | 0.3 | 0.4 |
| 2014-10 | 0.0 | 0.5 | 0.5 |
| 2014-09 | 0.1 | 0.3 | 0.4 |
| 2014-08 | 0.3 | 0.4 | 0.5 |
| 2014-07 | 0.1 | 0.5 | 0.6 |
| 2014-06 | 0.1 | 0.5 | 0.6 |
| 2014-05 | 0.3 | 0.7 | 0.8 |
| 2014-04 | 0.5 | 0.7 | 0.8 |
| 2014-03 | 0.5 | 0.6 | 0.8 |
| 2014-02 | 0.8 | 0.9 | 1.1 |
| 2014-01 | 0.2 | 0.6 | 0.8 |
graphiqueConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
- Source: INSEE
Strong slowdown in energy prices year on year
Year on year, the prices of energy increased by 5.2% in October 2023, after +11.9% in September. The prices of gas declined year on year (‑5.5% after +7.6%), as well as those of solid fuel (‑8.4% after +6.1%), mainly due to base effects (they had increased significantly in October 2022). The prices of petroleum products slowed down sharply (+1.8% after +10.7%), partly due to similar effects: prices decelerated for petrol (+13.5% after +25.9%) and diesel (+1.6% after +10.0%), while they declined more markedly for liquid fuel (‑16.2% after ‑10.5%). Conversely, the prices of electricity accelerated year on year (+18.5% after +16.1%).
The year-on-year slowdown in food prices went on
Year on year, food prices rose by 7.8% in October 2023, after +9.7% in September. They slowed down for the seventh month in a row. Excluding fresh products, the year-on-year rise in food prices softened (+9.1% after +10.6%), notably for bread and cereals (+9.4% after +10.9%), meat (+6.8% after +8.3%), milk, cheese and eggs (+11.2% after +13.5%), oils and fats (+5.8% after +7.8%), sugar, jam, honey, chocolate and confectionery (+12.6% after +14.0%), alcoholic (+6.5% after +7.3%) and non-alcoholic beverages (+9.9% after +11.1%). The prices of fresh products also increased in October 2023 at a less marked rate (+1.1% after +4.5% in September), slowed by the downturn in fresh vegetable prices (‑5.8% after +3.2%), while the prices of fresh fruits (+4.7% after +4.2%) and fresh fish (+1.5% after +0.1%) accelerated.
tableauDetailed figures for various groups
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2023 | October 2023 | m-on-m change (2) | y-on-y change (3) | |
| a) All households | ||||
| Overall | 10000 | 118.43 | 0.1 | 4.0 |
| Overall SA(1) | 10000 | 118.45 | -0.1 | 4.0 |
| Food | 1624 | 130.97 | 0.0 | 7.8 |
| Fresh food | 238 | 149.95 | 0.4 | 1.1 |
| Other food | 1386 | 127.97 | 0.0 | 9.1 |
| Tobacco | 185 | 171.15 | 0.0 | 9.9 |
| Manufactured products | 2322 | 105.43 | 0.2 | 2.2 |
| Clothing and footwear | 341 | 108.21 | 0.7 | 1.9 |
| Medical products | 384 | 85.37 | 0.1 | -0.9 |
| Other manufactured products | 1597 | 110.08 | 0.1 | 3.0 |
| Energy | 857 | 160.30 | -0.5 | 5.2 |
| of which petroleum products | 432 | 157.90 | -1.7 | 1.8 |
| Services | 5012 | 113.41 | 0.3 | 3.2 |
| Rents, water and household refuse collection | 744 | 108.68 | 0.4 | 2.7 |
| Health services | 639 | 102.02 | 0.5 | -0.4 |
| Transport | 301 | 122.31 | 4.1 | 5.4 |
| Communication | 208 | 94.55 | 0.0 | -4.7 |
| Other services | 3120 | 118.32 | -0.1 | 4.4 |
| Total except rents and tobacco | 9219 | 118.44 | 0.2 | 4.0 |
| Total except tobacco | 9815 | 117.54 | 0.1 | 3.9 |
| b) Urban working-class households or households of employees | ||||
| All products excluding tobacco | 9718 | 116.79 | 0.2 | 3.8 |
| c) Households in the first quintile of the living standards distribution | ||||
| All products excluding tobacco | 9700 | 117.58 | 0.2 | 3.9 |
- (1) seasonally adjusted
- (2) : [m/(m-1)]
- (3) : [m/(m-12)]
- Geographical coverage: France
- Source : INSEE – Consumer Price Indices
Slight slowdown in manufactured product prices year on year
Year on year, manufactured product prices increased by 2.2% in October 2023, after +2.8% in September. The prices of “other manufactured products” slowed down (+3.0% after +3.8%), notably those of vehicles (+1.5% after +2.6%), non-durable household goods (+9.1% after +12.2%), newspapers and periodicals (+4.8% after +5.3%), furniture and furnishings (+3.2% after +3.8%) and glassware, tableware and household utensils (+6.4% after +7.6%), while those of major household appliances declined over one year (‑0.5% after +0.5%). Contrariwise, the prices accelerated for equipment for sport (+2.9% after +2.5%) and those of games, toys and hobbies declined a bit less than in the previous month (‑2.3% after ‑2.4%). The prices of clothing and footwear slowed down (+1.9% after +2.5%). Finally, those of health products decreased over a year at the same rate than in the previous month (‑0.9%).
Service prices accelerated year on year
Year on year, service prices rose by 3.2% in October 2023, after +2.9% in September. The prices of transport accelerated (+5.4% after +4.9%), carried by those of transport by train (+9.2% after +6.8%), while they slowed down for airfares (+4.5% after +6.6%), and transport by road (+5.2% after +6.1%). The prices of “other services” accelerated again (+4.4% after +4.1%), notably those of social protection (+4.5% after +4.3%) and accommodation services (+7.2% after +7.1%), while the decrease in those of cultural and recreational services softened (‑0.7% after ‑3.9%). Contrariwise, the prices slowed down slightly in insurance services (+4.9% after +5.0%) and in maintenance and repair of the dwelling (+4.6% after +4.7%). Year on year, the prices of communication services decreased less than in the previous month (‑4.7% after ‑6.8%). Those of rents, water and household refuse collection slowed down again (+2.7% after +2.9%). Finally, the prices of health services decreased over a year at a rate close to that of the previous month (‑0.4% after ‑0.3%).
tableauDetailed figures for Core inflation and HICP
| Items | Weight | Index | Percentage change | |
|---|---|---|---|---|
| 2023 | October 2023 | m-on-m change (1) | y-on-y change (2) | |
| Core inflation - All items | 6057 | 114.76 | 0.2 | 4.2 |
| Food excluding fresh products, meat, milk and exotic products | 766 | 123.89 | 0.0 | 9.3 |
| Manufactured products | 1899 | 108.45 | -0.2 | 2.7 |
| Services including actual rentals and services for dwellings | 3392 | 116.69 | 0.5 | 3.8 |
| HICP - All items | 10000 | 121.61 | 0.2 | 4.5 |
- (1) : [m/(m-1)]
- (2) : [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Revisions
Compared to the provisional estimates published on 31 October 2023, both month-on-month and year-on-year changes in CPI and in HICP are confirmed.
For further information
Next publication of final results: 15 December 2023 at 8:45 am.
Documentation
CPI: methodological changes for 2023 (pdf,188 Ko)
Abbreviated Methodology (pdf,131 Ko)
Pour en savoir plus
Next publication of final results: 15 December 2023 at 8:45 am.