2024-01-04 10:33:28
Published on Jan 4, 2024 at 9:33 am
Small burst of inflation at the end of the year. In December, the rise in prices in France accelerated slightly, to 3.7% over one year after 3.5% last November according to the provisional estimate from INSEE published this Thursday morning.
This small increase at the end of the year was expected by the Institute of Statistics. It is explained by the acceleration in the prices of energy and services: the former show an increase of 5.6% over one year, compared to 3.1% last November, while the latter jump by 3.1 % (after 2.8%), driven by the transport sector.
Temporary start
Over one month, however, prices only increased by 0.1%. The good news is the stabilization of labels in the food aisles driven by the fall in prices of products excluding fresh produce. Year-on-year, food inflation now stands at 7.1% compared to 7.7% a month earlier. The prices of manufactured products are also calming down (+1.4% over one year).
The start should be temporary. For 2024, all economists are counting on a continued slowdown in inflation even if they do not agree on the pace. In its latest forecasts published in mid-December, INSEE sees it at 2.6% over one year, next June. While Patrick Artus, economic advisor to Natixis, estimates that it should resist more and be around 3.4% on annual average in 2024.
More information to follow…
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