Posted Sep 30, 2022 9:24 AMUpdated on Sep 30, 2022 at 9:36 am
Inflation continues to decline in France. In September, the rise in consumer prices stood at 5.6% over one year, according to data published this Friday by INSEE (6.2% according to the harmonized Eurostat index).
This figure confirms the slowdown already noted in recent months – +6.1% in July and +5.9% in August – mainly linked to the easing of prices for services (+3.2%) and especially energy (+17.8% over one year). Over one month, consumer prices fell by 0.5%, against an increase of 0.5% the previous month.
For the third month in a row, prices for a barrel of Brent have calmed down. Above all, the tariff shield on the price of gas and electricity and the rebate on gasoline increased from 18 cents to 30 cents in September are calming things down. Their impact is evaluated by the statistical institute at 2.5 points in september . The other posts continue their mad race forward. The prices of food products continue to accelerate, increasing by nearly 10% over one year, while those of manufactured goods climb by 3.6%.
Stagnation
In this context of still sharp price increases, household consumption of goods, in volume, stagnated in August 2022, according to INSEE, after a decline of 0.9% in July. “The increase in expenditure on manufactured goods (+1.2%) is offset by the drop in food purchases (−1.0%) and, to a lesser extent, by the decline in energy consumption”, specifies the ‘institute.
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