The consumer price index increased by 2.1% over one year in France in June, down slightly after 2.3% in May, INSEE indicated on Friday June 28 in a press release.
Inflation is thus resuming its slow decline after a slight bump in May, where it increased by 0.1 point compared to the month of April (2.2% over one year). In June 2023, it still reached 4.5%.
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The decline observed in June can be explained both by a “slowdown” the rise in energy and food prices, and a change at the same rate as in May in the prices of tobacco, manufactured products and services, details the National Institute of Statistics and Economic Studies in this first estimate (Insee) which should be confirmed in mid-July.
Food and service
The cost of food products rose 0.8% year-on-year in June, compared to 1.3% in May; that of energy, for its part, grew by 4.8%, while it was still growing by 5.7% a month earlier.
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The price of services – a component which weighs more than half of the consumer price index – appreciated by 2.8% year-on-year in June, a figure identical to that of May. The price of tobacco increased by 8.7% as in May while that of manufactured products remained flat (0%).
Over one month, inflation is « quasi stable » since it stood at 0.1% between May and June after having been zero between April and May, specifies INSEE.
A benchmark indicator at European level, the harmonised index of consumer prices (HICP) rose by 2.5% over one year in June, after a rise of 2.6% in May.
