Informations Rapides · 15 January 2021 · n° 009

In December 2020, consumer prices rose by 0.2% over one month and were stable year on year Consumer price index - final results - December 2020

In December 2020, the Consumer Price Index (CPI) rose by 0.2% over one month, as in November 2020. The service prices (+0.5% after +0.1%) and those of energy (+1.7% after +0.3%) accelerated significantly. The prices of tobacco were stable after a rebound the previous month (+4.9% in November). The food prices fell back (–0.4% after +0.6%) and those of manufactured goods decreased more than in the previous month (–0.4% after –0.3%)

Seasonally adjusted, consumer prices were stable in December, after +0.4% in November.

Year on year, consumer prices were stable, after +0.2% in the previous month. The food prices were less dynamic than in the previous month (+1.0% after +2.0%) and those of manufactured goods decreased more sharply (–0.9% after –0.3%). The prices of services (+0.7%) and those of tobacco (+12.5%) increased, year on year, at the same rate as in November. The decrease in the energy prices softened (–7.0% after –7.8%).

Year on year, core inflation decreased, in December, to +0.2% after +0.4% in November. The Harmonised Index of Consumer Prices (HICP) rose by 0.2% over a month as in the previous month; year on year, it was stable after +0.2% in November.

In December 2020, food prices were less dynamic than in November (+1.0% after +2.0%). The prices of fresh produces slowed down (+6.2% after +11.1%) in the wake of those of fresh vegetables (+3.8% after +20.1%). In contrast, the prices of fresh fruits (+10.8% after +9.7%), fresh fishes (+5.4% after +4.2%) and seafoods (+6.9% after +3.8%) accelerated compared with the last month. Excluding fresh produces, food inflation decreased (+0.2% after +0.5%). The prices of meat (+0.9% after +1.4%) and those of alcoholic beverages (+0.6% after +0.8%) slowed down. The prices of non alcoholic beverages fell back (–0.6%) after being stable in November.

Year on year, manufactured product prices fell by 0.9%, after –0.3% in the last month. Clothing and footwear prices dropped more than in November (–3.3% after –1.8%). Those of “other manufactured goods” fell back (−0.3% after +0.3%). The prices of major household appliances accentuated their decline (−1.8% after −0.5%) in the wake of those of cookers (−3.0% after +1.1%). The prices of games, toys and hobbies fell back (−0.2% after +0.5 %) and those of glassware, tableware and household utensils were stable after +0.7% the last month. The prices of vehicles fell back (−0.6% after +0.4%) in December due to the decrease in new motor cars prices (−1.6% after being stable in the last month). Finally, the health product prices diminished as in November (−1.5%).

Year on year, service prices increased by 0.7% in December, as in November. The decrease in transport service prices was less marked than in the previous month (−1.6% after −3.7%) in link with that of airfares prices (−4.4% after −8.1%) and passengers transport by railway prices (−6.5% after −9.6%). The prices of communication services slowed down (+0.8% after +1.1%) in the wake of those of mobile phone service (−0.7% after +0.2%). The prices of health services increased at the same rate as in the previous month (+0.5%). The prices of housing-related services (+0.2% after +0.3%) and those of « other services » (+1.1% after +1.2%) slowed down compared to November.

Year on year, the decline in energy prices decelerated slightly (−7.0% after −7.8%) in December. The prices of petroleum product decreased less strongly than in November (−13.8% after −15.2%) in the wake of diesel prices (−14.3% after −16.2%) and petrol prices (−11.1% after −11.8%). The natural and town gas prices diminished less strongly than in the previous month (−5.4% after −6.1%) and those of electricity increased at the same rate (+3.8%).

Compared with the provisional estimates published on January 6, 2021, the month-on-month and year-on-year changes in the CPI and HICP have been confirmed.