2023-08-31 13:39:59
Bad news for the executive. While the government is meeting distributors and their suppliers this week to convince them to extend price cuts to a greater number of items, INSEE has confirmed a rebound in inflation in August. According to a preliminary estimate released on Thursday, the consumer price index rose 4.8% year on year this month.
A substantial and larger than expected rebound compared to July, when inflation stood at 4.3%. From one month to another, the increase is also significant. Prices rose 1% in August compared to July, after the very small increase of 0.1% observed the previous month.
Increase in regulated prices from August 1
Because, according to INSEE : the rebound in energy prices, due “in particular to the rise in the price of petroleum products and regulated electricity prices on August 1, 2023”. On the other hand, on the other items of household expenditure, the published data show that food prices should slow down for the fifth consecutive month, as well as, “to a lesser extent, those of manufactured goods and services. »
However, even if INSEE notes a slowdown, the main driver of inflation in recent months remains the rise in food prices: they show a jump of 11.1% over one year (after 12.7% in July ).
As for energy prices, after posting a fall of 3.7% in July, they moved forward again in August with a rise of 6.8% over one year.
As for manufactured goods and services, the rise in prices continued in August, but at a slower pace than in July. It remains close to 3% for these two sectors. As for tobacco, it rose by 9.9% over one year, after 9.8% in July.
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