Infotech Inflation slows in August to 5.8% year on year in France

Inflation slows in August to 5.8% year on year in France

The rise in consumer prices in France slowed in August, to 5.8% over one year, against 6.1% in July, according to provisional data published by INSEE on Wednesday August 31.

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This drop in inflation is due “to the slowdown in energy prices”explains the National Institute of Statistics in a press release, while the rise in the prices of manufactured goods and food is accelerating and that of the prices of services is progressing at the same rate as in July.

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First slowdown in a year

Over one month, however, the rise accelerated with consumer prices rising by 0.4% between July and August, against 0.3% between June and July.

This is the first slowdown in consumer price inflation in France year-on-year since July 2021, when inflation was limited to 1.2%. Between November and December 2021, prices had risen at the same rate, at 2.8% over one year.

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In August, food prices increased by 7.7%. The increase was more contained (+3%) for fresh products than for other food products.

Energy prices jumped 22.2%, but this is less than in July, when the increase reached 28.5%.

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Rising prices of manufactured goods

The prices of manufactured goods then accelerated sharply, with an increase of 3.5%, against 2.7% the previous month, while services rose by 3.9% over one year, i.e. as much as in July .

Finally, the harmonized consumer price inflation index (HICP), which serves as a basis for comparison at European level, increased by 6.5% over one year in August, against 6.8% in July. Over one month, the HICP rose by 0.4%, against 0.3% the previous month.

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