France’s consumer price index (CPI) grew by 0.2% in June 2023, following a -0.1% decrease in May. Manufactured goods prices climbed by 4.2% year on year (YoY) in June 2023, following a 4.1% increase in May. Clothing and footwear prices climbed at a faster rate than the previous month, at 4.9 percent after 2.6 percent, owing to a lag in the schedule of summer sales.
Prices for ‘other manufactured items’ fell by 5.3 percent after rising by 5.6 percent. Energy prices were practically unchanged at 0.1 percent after falling by -3.0 percent in May, with a minor increase in petroleum product prices at 0.3% after falling by -5.9 percent.
According to France’s National Institute of Statistics and Economic Studies (INSEE), manufactured goods prices were nearly steady at 0.1 percent following 0.0 percent. Consumer prices were unchanged in June 2023, following a -0.2% decrease in May. In June 2023, consumer prices increased by 4.5% year on year, following a 5.1% increase in May. This fall in inflation was caused by a -3.0% year-on-year drop in energy costs following a 2.0% year-on-year increase. After 4.1 percent, the price of manufactured products increased slightly to 4.2 percent.
Core inflation fell year on year to 5.7 percent in June 2023, from 5.8 percent in May. The harmonized index of consumer prices (HICP) climbed by 0.2% month on month in June 2023, after falling by 0.1% the previous month; year on year, it increased by 5.3%, up from 6.0% in May.
Energy costs fell by 3.0 percent year on year in June 2023, following a 2.0 percent drop in May. Petroleum product prices fell by 17.2% in June 2022, after falling by 9.7% the previous month owing to a ‘base effect’; they had risen in June 2022. Diesel prices fell -18.8 percent after falling -11.3 percent, while petrol prices fell -11.3 percent after falling -2.4% and liquid fuel prices fell -30.7 percent after falling -24.6%. Solid fuel costs fell by 28.7 percent after falling by 32.9 percent, while petrol prices rose slightly by 22.0 percent after falling by 21.6 percent.
