Source:Insee

10 NOVEMBER 2011

CONSUMER PRICES edged up +0.2% in October in Metropole month-on-month and in one year inched up to +1.3% (from +1.1% in September on an annual basis) as energy prices stayed unchanged or +0.1% due to crude oil prices down swings on global growth concerns. Including the French Overseas Departments (DOM) inflation performed equally to Metropole on a monthly basis and stayed unchanged at +2.3% in one year.

In  October, the food prices index rose a steep +0.4% as fresh produce prices jumped +1.6% due to fruit +4.5% price spike while vegetable prices fell -0.4%. Dairy, meat, fish and seafood products remained stable equally to  bread and cereal prices or +0.1% although among agricultural commodity prices, soft wheat quotes had remained flat in September month-on-month and -11% in one year according to the European Commission‘s data. Excluding fresh products, food prices rose +0.2% although tea-coffee-cocoa prices jumped +0.9% as oil and fat prices stable trend temporarily offset inflationary pressures.

Tobacco prices rose +2.7% due to +6% tax, the second increase this year. Manufactured products inched up +0.2% as health products prices decreased by 0.1% while by contrast, clothing and footwear prices jumped +2.2%.

The Services price index stayed unchanged or +0.1% as communication prices decreased by 0.3% and transport moved up +0.2%.

In one year, food price inflation hiked the price tag +3.4% due to  bread and cereals +3%,  fish and sea food +4.1%, meat products +3.8%, fruit +3.6%, tea-coffee-cocoa +13.2%, and oil and fat +7.9%. Manufactured products prices increased +0.6% due to clothing and shoes +2.3% while tobacco prices mechanically rose +8.5%.

Energy products prices increased +11.5% as oil products rose +15%. The services price index grew +1.4% due to rent-water and garbage removal +1.9% pegged, for rent, to yearly inflation. Health services price tags climbed +1.1% due in part to dental care +0.8% while transport and communication prices dipped -0.8% offset by communication -0.4% as transport prices leaped +5% due mostly to combined passenger fares and  petrol prices hikes.