France's CPI rises by 0.2% in Jun 2023; boost in clothing prices

The prices of ‘other manufactured goods’ slowed down at 5.3 per cent after 5.6 per cent. The prices of energy were almost stable at 0.1 per cent after -3.0 per cent in May, with a slight rebound in petroleum product prices at 0.3 per cent after -5.9 per cent. The prices of manufactured goods remained almost stable at 0.1 per cent after 0.0 per cent, according to France’s National Institute of Statistics and Economic Studies (INSEE).

Seasonally adjusted, consumer prices were stable in June 2023, after -0.2 per cent in May. Consumer prices grew by 4.5 per cent YoY in June 2023, after 5.1 per cent in May. This decrease in inflation resulted from a YoY decline in energy prices at -3.0 per cent after 2.0 per cent. The prices of manufactured goods accelerated slightly at 4.2 per cent after 4.1 per cent.

Core inflation decreased on a YoY basis reaching 5.7 per cent in June 2023, after 5.8 per cent in May. The harmonised index of consumer prices (HICP) rose by 0.2 per cent in June 2023 over one month, after -0.1 per cent in the previous month; YoY, it increased by 5.3 per cent, after 6.0 per cent in May.

The prices of energy decreased by 3.0 per cent YoY in June 2023, after 2.0 per cent in May. The decline in petroleum product prices was more marked than in the previous month at -17.2 per cent after -9.7 per cent due to a ‘base effect’; they had soared in June 2022. The prices of diesel dropped again at -18.8 per cent after -11.3 per cent, as those of petrol at -11.3 per cent after -2.4 per cent, and liquid fuel at -30.7 per cent after -24.6 per cent. The prices of solid fuel slowed down at 28.7 per cent after 32.9 per cent, while those of gas accelerated slightly at 22.0 per cent after 21.6 per cent.

ALCHEMPro News Desk (NB)