Source:Insee
|  |
SEPT. Consumer Prices stable despite renewed food price inflation
13 OCTOBER 2011
CONSUMER PRICES remained unchanged in September in Metropole month-on-month and in one year inched down to +1.1% (from +1.2% in August on an annual basis). Including the French Overseas Departments (DOM) inflation stayed nearly stable on the same period or +0.1% and +2.3%
In September, the services index -1.1% price cut pushed down the overall consumer gauge due to transport and communication -1.7% price decline along with other services -1.5%. Combined passenger fares -7.6% price index cut accounted for the price tag decline along with sea and water passenger fares -10% price drop. Health services more modest -0.2% price index dip and stable rent prices maintained the services component at steep levels. Accommodation services recorded -17.8% price index cut and met substantial demand.
The food price index edged up +0.2% but food price inflation made a come back due to fresh products steep +1% price increase (-0.2% in August) and, despite a rush of supply triggered by September unusually hot temperatures, over 24C up the Loire Valley and up to 31C in the south, the warmest September month in the last 50 years according to the national weather center Météo France. Fresh vegetables consumer prices still shot up +1.4%. Fish and seafood products +1.4% price hike added to the price pressure along with tea-cocoa-coffee +0.5% rise although imported tropical food products prices had subsided on average -2% since August.
Energy prices increased +0.7% and refined oil products +1.2% although Brent Crude oil prices declined -5.5% to USD 110 in August and nearly equally in September.
Manufactured products +1.1% price index gain added to the list of price hikes as clothing and footwear prices jumped +5.1% and other manufactured products +0.5% despite feeble consumer demand.
In one year, the overall consumer prices index most inflationary components remained food and energy, respectively up 3.1% and 12.1%. Manufactured products prices stayed nearly unchanged or +0.1% on the same period due to health products -1.5% price index cut. Clothing-footwear prices mechanically stabilized +0.1% due to the summer sales period.
The services price index rose +1.5% with rent and associated services prices up 1.9%, health services +1.5% and other services +1.9%. Transport and communication carried over this month price cut and fell -0.8%. Except for leisure and culture services lower prices due the out-of-season time, few consumer prices recorded noticeable price cuts. Health insurance and car insurance price indices each declined -3%,household equipment goods on average -10%, and communication equipment on average -3.9%. The steepest price increases were recorded by tea-cocoa-coffee +12.3%, oil and fat +7.7%. Most food items were up on average +3%. The liquid combustible price index soared +24.7%.
|
Subscribe Today
