HomeEconomyInflation confirmed at 6% annual in January

Inflation confirmed at 6% annual in January

This slight rise in inflation in one month (+0.1 pp) is due to the acceleration in food and energy prices.

Consumer prices increased by 6% in one year in January, INSEE confirms this Friday. In one month, the increase was 0.4% after -0.1% in December.

In one month, energy prices rebounded (+3.9% vs. -3.6%) due to higher prices for petroleum products (+6.7% vs. -5.2% ), in line in particular with the end of fuel discounts and the controlled rise in the price of gas (+7.9% after -1.4%).

Food prices accelerated (+1.7% vs. +0.5%) and services slowed down (+0.1% vs. +0.3%). The prices of manufactured goods fell (-1.1% after +0.2%) due to the winter sales.

Adjusted for seasonal variations, consumer prices increased by 0.8% in one month, after +0.1% in December.

+13.3% in one year for food prices

Year-over-year, consumer prices increased by 6.0% in January 2023, after +5.9% in December.

This slight rise in inflation is due to the acceleration in food prices (+13.3% after +12.1%) and energy (+16.3% after +15.1%). The prices of manufactured goods (+4.5% after +4.6%) and those of services (+2.6% after +2.9%) slowed down in one year.

The harmonized consumer price index (IPCA) increased by 0.4% in one month, after -0.1% in the previous month; in one year, it increased by 7.0%, after +6.7% in December.

In early February, INSEE had estimated that the increase in consumer prices would remain on a “plateau” around 6% per year in February, before gradually declining to 5% in June.

Author: Olivier Chicheportiche
Source: BFM TV

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