2023-06-30 08:57:00
Last May, the general price increase was 5.1% according to INSEE. The indicator falls below 5% for the first time since April 2022.
By BL with AFP Insee measures a decline in inflation for the second consecutive time. © JOAO LUIZ BULCAO / Hans Lucas / Hans Lucas via AFP Published on 06/30/2023 at 08:57
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Price increases slowed for the second month in a row in France, posting 4.5% year on year in June after 5.9% in April and 5.1% in May, INSEE said on Friday. in a first estimate. For the first time since April 2022, the indicator therefore falls below 5%, thanks to a slowdown in the rise in food prices and a 3% decline over one year in energy prices, details the National Institute of Statistics and Economic Studies in its press release.
The fall in energy prices, if confirmed by INSEE in its final estimate of inflation expected in mid-July, is a small event after more than two years of continuous rise. The last decline in prices in this area dates from March 2021, well before the surge in prices linked first to the post-Covid economic recovery and then to the outbreak of the war in Ukraine.
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Food prices continued to soar in June (+13.6% year-on-year), but their growth slowed compared to May (+14.3% year-on-year). Fresh food products nevertheless rose more quickly than in May (+11.1% after +10.7% in May). The rise in the cost of services (+2.9%) and manufactured goods (+4.3%) took place in June at a rate virtually unchanged from May. Tobacco prices (+9.8%) continued on exactly the same upward trend as the previous month (+9.8%).
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Over one month, the consumer price index increased by 0.2%, according to INSEE, after falling by 0.1% between April and May. Benchmark indicator for comparisons between European countries, the harmonized consumer price index (HICP) rose by 5.3% over one year, after rising by 6% in May.
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