2023-05-31 09:10:16
Inflation slowed markedly in France in May to stand at 5.1% in one year, after reaching 5.9% in April and more than 6% at the start of the year, according to an initial estimate published on Wednesday 31 May by INSEE.
Consumer price index for May 2023 (provisional estimate): for the 1st time in a year, the year-on-year consumer price index in ????????, at 5.1%, drops from its plateau which was around 6 %. This reflux is more marked than expected. (1/5) pic.twitter.com/pSDqrmPe74
— Julien Pouget (@J_Pouget) May 31, 2023
“This fall in inflation would be due to the year-on-year slowdown in energy prices (…)manufactured goods and services”but also food, up 14.1% year on year in May, after growing 15% in April, says the National Institute of Statistics and Economic Studies (Insee).
The increase in the price of fresh products (+10.4% in one year) continued at almost the same pace as in April (+10.6%), but the cost of other food products, on the other hand, increased less rapidly (14.8% against 15.8% in April).
Net disinflation for energy
Disinflation is even clearer for energy, where prices rose 2% year on year in May, after a 6.8% jump in April and double-digit growth in recent months. The cost of manufactured goods (+4.1% year on year in May) and services (+3%) also decelerated, but less rapidly.
Tobacco, the cost of which jumped 9.8% in one year in May, is the only exception to the disinflation movement and its price is accelerating for the third consecutive month, notes INSEE all the same.
Benchmark indicator for comparisons between European countries, the harmonized index of consumer prices (HICP) rose by 6% year on year in May, a growth rate nearly one point lower than in April (+6 .9%).
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