The rise in consumer prices in France slowed to 5.6% year-on-year in September, from 5.9% in August, INSEE reported on Friday, confirming its first estimate. This slowdown is due to the “slowdown in the prices of services (+3.2% compared to 3.9%) and energy (+17.9% compared to 22.7%)”, specifies the National Institute of Statistics.
But the increase in food products, to which the poorest households spend a greater part of their income, accelerated in one year, from 7.9% in August to 9.9% in September. Manufactured goods gains were flat, with the annual rate of increase falling from 3.5% to 3.6%.
IPC fell 0.6% monthly
In one month, the consumer price index finally fell by 0.6%, compared to 0.5% in the first estimate made at the end of September. This fall in the price level compared to August is a consequence, in particular, of a contraction in the prices of services (-1.5%) “due to the more pronounced seasonal decrease than last year in the prices of certain services related to tourism”, details the INSEE in its press release.
Still more than a month away, energy prices for their part fell for the third consecutive month, but the fall (-2.6%) was less pronounced than in August (-3.9%), despite the entry effective on September 1 of a temporary discount of 30 cents. in a liter of fuel at the pump. The increase in the prices of manufactured products slowed down to 0.9% in one month, compared to 1.8% in August, as well as that of food (+1.1% compared to 1.7%).
Just a temporary slowdown
Finally, the harmonized consumer price index (HICP), which serves as a basis for comparison at a European level, confirmed an increase of 6.2% in one year and a decrease of 0.5% in one month.
In the opinion of the government and most economists, this slowdown in inflation in France is only temporary. A sustained decline is not expected before the second quarter of 2023.
Source: BFM TV
