In January 2012, the consumer price index (CPI) decreased by 0.4%, after a rose by 0.4% in December. The year-on-year change was +2.3% in January. The price index without tobacco decreased also by 0.4% in January 2012 (+2.3% year-on-year).
Adjusted from seasonal variations, the monthly change increased by 0.2% (+2.4% year-on-year).
The decline of CPI of January resulted mostly from the decrease of prices of manufactured products, due to winter sales. This decline was lightened by the important growth of energy prices. Prices of services were steady, rates increases made up for one another by decreases in services linked with tourism.
In January 2012, prices of manufactured products decreased (—1.9%; +0.6% year-on-year). Due to winter sales, prices of clothes and footwear went down, in a accentuate way as the year before (—10.9%; —7.9% in January 2011; —0.3% year-on-year). Unlike this, the new scales for the calculation of ecological “bonus / malus” for the year 2012 and the end of sales were contribuating to the growth of prices of new cars (+1.2%; +3.0.% year-on-year).
In January 2012, prices of energy were rising (+2.4%; +7.9% year-on-year). This change was the consequence, on the one hand, of the increase of rates of town gas (+4.3%; +9.5% year-on-year) and, on the other hand, of gain of prices of fuel products (+3.0%; +9.8 % year-on-year), in the wake of the growth of fuel products rates.
Consumer price index (IPC) and Core inflation (ISJ) – year-on-year changes
Source : Insee - indices des prix à la consommation
In January 2012, prices of services were steady (+1.9% year-on-year), increases and decreases made up for one another.
Prices of food products went up slightly in January 2012 (+0.1%; +3.5% year-on-year). For espiecally seasonal reasons, prices of fresh products went down (—1.6%; —1.9% in January 2011; —1.4% year-on-year). Prices of food products except fresh products were growing moderately (+0.3%; +4.3% year-on-year).
Core-inflation (ISJ) decreased slightly in January 2012 (—0.1%; +1.5% year-on-year).
The harmonised consumer price index (HCPI) went down by 0.4% (+2.6% year-on-year).
n° 50 - February 22, 2012
Consumer price index - January 2012
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