2023-07-13 12:46:04
The slowdown in the rise in consumer prices in France in June to 4.5% over one year, was confirmed on Thursday by INSEE, partly thanks to the drop in energy prices. But food prices continued to soar, rising 13.7%. The fact remains that in June, inflation resumed its ascent with an increase of 0.2% against a drop of 0.1% in May.
In addition, so-called underlying inflation, which excludes the most volatile prices and those subject to government intervention and allowing a long-term trend to be identified, remains high at 5.7% over one year. Compared to June 2022, energy prices fell by 3%, inflation having already been driven for several months by the rise in food products, which represent a larger share of consumption by low-income households.
In fact, the prices of fresh produce accelerated to an 11.2% increase after 10.7% due to the faster rise in the price of fruit. The sub-category including milk, cheeses and eggs saw an increase of 19.8% over one year, meat by 11.9%, bread and cereals by 14.1%, sugar, jam, honey, chocolate and confectionery by 16.3%.
Delayed sales
More moderate but still strong, the rise in manufactured goods was 4.2% in June. Among them, clothing and shoes increased over one year by 4.9%, against 2.6% in May, which INSEE explains by “a shift in the calendar of summer sales, which began on June 28 in 2023 against June 22 in 2022”.
In addition, the prices of services, which alone account for half of the average consumer basket, increased by 3%. Among these, the prices of accommodation take 5.1%, those of catering 5.6%, plane tickets 9.9%, trains 8.5% and road transport 4.7% .
The fall in energy prices is due to that of petroleum products, which fell by 17.2%, those of gasoline falling by 11.3% and those of diesel by 18.8%. But electricity has risen by 10.1% and gas by 22%.
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