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- France's consumer price index rose 1.4% y/y in May, as expected
France's consumer price index rose 1.4% y/y in May, as expected
According to the report from INSEE, in May 2021, the Consumer Price Index (CPI) rose by 0.3% over one month, after +0.1% in April. The service prices grew (+0.3% after +0.1%) and those of energy (+0.5% after –0.4%) and those of manufactured goods (+0.1% after –0.1%) rebounded. The prices of tobacco were stable and those of food slowed down slightly (+0.5% after +0.6%).
Seasonally adjusted, consumer prices advanced by 0.2% after +0.1% in April.
Year on year, consumer prices rose by 1.4%, after +1.2% in April. The energy prices accelerated (+11.7% after +8.8%). The decline in manufactured good prices softened (–0.1% after –0.2%). The decrease in food prices was maintained at the same level as in April (–0.3%). The price of services (+1.1% after +1.2%) and those of tobacco (+5.3% after +5.8%) slowed down.
Year on year, core inflation fell in May, down to +0.9%, after +1.0% in April. The Harmonised Index of Consumer Prices (HICP) rose by 0.3% over one month after +0.2% in the previous month; year on year, it increased by 1.8%, after +1.6% in April.
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