Inflation continues to rise. After reaching 5.9% year-on-year in December, the rise in consumer prices in France stood at 6% year-on-year in January, said Friday the National Institute of Statistics (INSEE) confirming its first estimate. This slight acceleration in January is explained by the increase in the prices of petroleum products with the end of the generalized rebate at the pump, as well as that of gas prices, within the limit of a ceiling of 15% decided by the government for regulated tariffs, detailed INSEE.
In January, energy prices jumped 16.3%, while food prices soared 13.3%, weighing on household consumption. For food, the increases affect fresh fruits and fish, bread, milk, cheese, eggs, meat, sugar and beverages. Conversely, the rise in prices for manufactured goods and services slowed year-on-year to 4.5% and 2.6% respectively.
No drop in consumer prices before June
Core inflation, which excludes the most volatile items such as energy and some food products, and thus provides an underlying trend in price developments, stood at 5.6% year-on-year in January, after 5.3% in December. The Harmonised Index of Consumer Prices (HICP), used for Europe-wide comparisons, stood at 7% year-on-year in January.
In early February, INSEE estimated that the rise in consumer prices would remain on "a plateau" around 6% over one year in February, before gradually falling to 5% in June.
- Economy
- Insee
- Inflation
- Energy