The rise in consumer prices in France slowed in August, to 5.8% over one year, against 6.1% in July, according to provisional data published on Wednesday by INSEE. This fall in inflation is due “to the slowdown in energy prices”, explains the National Institute of Statistics.
Over one month, however, the rise accelerated with consumer prices rising by 0.4% between July and August, against 0.3% between June and July. This is the first slowdown in consumer price inflation in France year-on-year since July 2021, when inflation was limited to 1.2%. Between November and December 2021, prices had risen at the same rate, at 2.8% over one year.
Rising energy prices
In August, food prices increased by 7.7%. The increase was more contained (+3%) for fresh products than for other food products. Energy prices jumped 22.2%, but this is less than in July, when the increase reached 28.5%.
Finally, the prices of manufactured products accelerated markedly, with an increase of 3.5%, against 2.7% the previous month, while services rose by 3.9% over one year, ie as much as in July. Finally, the harmonized consumer price index, which serves as the basis for European comparisons, rose by 6.5% over one year in August, against 6.8% in July.