Informations Rapides · 15 March 2023 · n° 63
In February 2023, consumer prices increased by 1.0% over one month and by 6.3% year on year Consumer price index - final results - February 2023

Informations rapides

N^o 63

Paru le :Paru le15/03/2023

Prochaine parution le : 14/08/2024 at 08:45 - July 2024

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Monthly change: +1.0% in February; year-on-year change: +6.3%
Increase in core inflation year on year
Acceleration in food prices year on year
Acceleration in service prices year on year
Increase in manufactured good prices year on year
Slowdown in energy prices year on year
Revisions
For further information

Monthly change: +1.0% in February; year-on-year change: +6.3%

In February 2023, the Consumer Price Index (CPI) increased by 1.0% over one month, after +0.4% in January. The prices of manufactured goods rebounded (+0.8% after ‑1.1%) with the end of winter sales. Those of services accelerated (+0.8% after +0.1%) linked with the rebound in transport service prices (+4.8% after ‑6.4%). The prices of food increased at the same rate than in January (+1.7%) and those of energy slowed down (+1.6% after +3.9%): the rise of electricity prices due to the revaluation of regulated tariffs was partly offset by the decline in petroleum product prices (‑1.2% after +6.7%).

Seasonally adjusted, consumer prices increased by 1.0% in February 2023, after +0.8% in January.

Year on year, consumer prices grew by 6.3% in February 2023, after +6.0% in January. This increase in inflation resulted from an acceleration in prices of food (+14.8% after +13.3%), services (+3.0% after +2.6%) and manufactured goods (+4.7% after +4.5%). Contrariwise, the prices of energy slowed down (+14.1% after +16.3%).

Increase in core inflation year on year

Year on year, core inflation grew by 6.1% in February 2023, after +5.6% in January.

The Harmonised Index of Consumer Prices (HICP) rose by 1.1% in February 2023 over one month, after +0.4% in the previous month; year on year, it increased by 7.3%, after +7.0% in January.

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tableauConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes

Consumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
	HICP	CPI	ISJ
2023-02	7.3	6.3	6.1
2023-01	7.0	6.0	5.6
2022-12	6.7	5.9	5.3
2022-11	7.1	6.2	5.3
2022-10	7.1	6.2	5.0
2022-09	6.2	5.6	4.5
2022-08	6.6	5.9	4.7
2022-07	6.8	6.1	4.3
2022-06	6.5	5.8	3.7
2022-05	5.8	5.2	3.7
2022-04	5.4	4.8	3.3
2022-03	5.1	4.5	2.6
2022-02	4.2	3.6	2.5
2022-01	3.3	2.9	1.7
2021-12	3.4	2.8	1.9
2021-11	3.4	2.8	1.6
2021-10	3.2	2.6	1.4
2021-09	2.7	2.2	1.3
2021-08	2.4	1.9	1.3
2021-07	1.5	1.2	0.2
2021-06	1.9	1.5	1.1
2021-05	1.8	1.4	1.0
2021-04	1.6	1.2	1.0
2021-03	1.4	1.1	0.9
2021-02	0.8	0.6	0.4
2021-01	0.8	0.6	0.9
2020-12	0.0	0.0	0.2
2020-11	0.2	0.2	0.4
2020-10	0.1	0.0	0.3
2020-09	0.0	0.0	0.5
2020-08	0.2	0.2	0.5
2020-07	0.9	0.8	1.4
2020-06	0.2	0.2	0.3
2020-05	0.4	0.4	0.6
2020-04	0.4	0.3	0.3
2020-03	0.8	0.7	0.7
2020-02	1.6	1.4	1.3
2020-01	1.7	1.5	0.9
2019-12	1.6	1.5	1.1
2019-11	1.2	1.0	0.9
2019-10	0.9	0.8	1.0
2019-09	1.1	0.9	0.9
2019-08	1.3	1.0	0.7
2019-07	1.3	1.1	0.9
2019-06	1.4	1.2	0.9
2019-05	1.1	0.9	0.5
2019-04	1.5	1.3	0.7
2019-03	1.3	1.1	0.5
2019-02	1.6	1.3	0.7
2019-01	1.4	1.2	0.6
2018-12	1.9	1.6	0.7
2018-11	2.2	1.9	0.7
2018-10	2.5	2.2	0.8
2018-09	2.5	2.2	0.7
2018-08	2.6	2.3	0.9
2018-07	2.6	2.3	0.8
2018-06	2.3	2.0	0.8
2018-05	2.3	2.0	1.0
2018-04	1.8	1.6	0.9
2018-03	1.7	1.6	0.9
2018-02	1.3	1.2	0.7
2018-01	1.5	1.3	0.8
2017-12	1.2	1.2	0.6
2017-11	1.2	1.2	0.5
2017-10	1.2	1.1	0.5
2017-09	1.1	1.0	0.5
2017-08	1.0	0.9	0.5
2017-07	0.8	0.7	0.5
2017-06	0.8	0.7	0.4
2017-05	0.9	0.8	0.3
2017-04	1.4	1.2	0.5
2017-03	1.4	1.1	0.4
2017-02	1.4	1.2	0.2
2017-01	1.6	1.3	0.6
2016-12	0.8	0.6	0.4
2016-11	0.7	0.5	0.6
2016-10	0.5	0.4	0.5
2016-09	0.5	0.4	0.7
2016-08	0.4	0.2	0.4
2016-07	0.4	0.2	0.5
2016-06	0.3	0.2	0.7
2016-05	0.1	0.0	0.7
2016-04	-0.1	-0.2	0.6
2016-03	-0.1	-0.1	0.7
2016-02	-0.1	-0.2	0.7
2016-01	0.3	0.2	0.9
2015-12	0.3	0.2	1.0
2015-11	0.1	0.0	0.9
2015-10	0.2	0.1	0.8
2015-09	0.1	0.0	0.6
2015-08	0.1	0.0	0.5
2015-07	0.2	0.2	0.6
2015-06	0.3	0.3	0.6
2015-05	0.3	0.3	0.5
2015-04	0.1	0.1	0.4
2015-03	0.0	-0.1	0.2
2015-02	-0.3	-0.3	0.2
2015-01	-0.4	-0.4	0.1
2014-12	0.1	0.1	-0.1
2014-11	0.4	0.3	-0.2
2014-10	0.5	0.5	0.0
2014-09	0.4	0.3	0.1
2014-08	0.5	0.4	0.3
2014-07	0.6	0.5	0.1
2014-06	0.6	0.5	0.1
2014-05	0.8	0.7	0.3
2014-04	0.8	0.7	0.5
2014-03	0.8	0.6	0.5
2014-02	1.1	0.9	0.8
2014-01	0.8	0.6	0.2

graphiqueConsumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes

Acceleration in food prices year on year

Year on year, food prices rose by 14.8% in February 2023, after +13.3% in January. The increase in fresh product prices was more marked than in the previous month (+15.0% after +10.2%): the prices of fresh vegetables (+23.3% after +12.0%) and fresh fruits (+9.8% after +7.4%) accelerated. Contrariwise, those of fresh fish slowed down (+12.0% after +14.7%). Excluding fresh products, food prices also accelerated (+14.8% after +13.9%) linked with the prices of bread and cereals (+14.4% after +13.4%), meat (+15.4% after +15.0%), cheese and curd (+19.4% after +18.0%), sugar, jam, honey, chocolate and confectionery (+13.4% after +11.5%), non-alcoholic (+12.7% after +11.6%) and alcoholic beverages (+7.4% after +6.9%).

Acceleration in service prices year on year

Year on year, service prices rose by 3.0% in February 2023, after +2.6% in January. The increase in “other service” prices accentuated (+3.7% after +3.5%), notably those of catering services (+5.6% after +5.3%), accommodation services (+2.9% after +2.4%), maintenance and repair of personal transport equipment (+9.3% after +8.7%), toll facilities and parking meters (+3.5% after +2.4%) and package holidays (+33.5% after +19.3%). The prices of transport services accelerated (+11.1% after +10.2%) notably airfares (+29.0% after +25.7%) and transport by railway (+9.5% after +7.9%). The prices of housing-related services also accelerated (+2.7% after +2.0%) due to the increase in actual rentals (+2.1% after +1.2%). The decrease in health service prices softened (‑0.2% after ‑0.4%) and those in communication service prices accentuated (‑2.0% after ‑1.4%).

tableauDetailed figures for various groups

2015:100

Detailed figures for various groups (2015:100)
Items	Weight	Index	Percentage change
	2023	February 2023	m-on-m change (2)	y-on-y change (3)
a) All households
Overall	10000	115.78	1.0	6.3
Overall SA(1)	10000	116.41	1.0	6.4
Food	1624	126.85	1.7	14.8
Fresh food	238	152.91	4.5	15.0
Other food	1386	122.84	1.2	14.8
Tobacco	185	156.06	0.0	0.2
Manufactured products	2322	103.49	0.8	4.7
Clothing and footwear	341	98.91	1.1	2.3
Medical products	384	86.07	0.1	-0.5
Other manufactured products	1597	108.96	0.9	6.5
Energy	857	156.47	1.6	14.1
of which petroleum products	432	155.51	-1.2	8.8
Services	5012	111.33	0.8	3.0
Actual rentals and services for dwellings	744	107.39	1.2	2.7
Health services	639	101.59	0.1	-0.2
Transport	301	117.27	4.8	11.1
Communication	208	99.34	0.1	-2.0
Other services	3120	115.41	0.6	3.7
Total except rents and tobacco	9219	115.84	1.0	6.7
Total except tobacco	9815	115.06	1.1	6.4
b) Urban working-class households or households of employees
All products excluding tobacco	9718	114.44	1.1	6.2
c) Households in the first quintile of the living standards distribution
All products excluding tobacco	9700	115.14	1.2	6.8

(1) seasonally adjusted
(2) : [m/(m-1)]
(3) : [m/(m-12)]
Geographical coverage: France
Source : INSEE – Consumer Price Indices

Increase in manufactured good prices year on year

Year on year, manufactured good prices increased by 4.7% in February 2023, after +4.5% in January. The prices of “other manufactured goods” accelerated (+6.5% after +6.2%), notably those of furniture and furnishings (+9.8% after +9.2%), non-durable household goods (+18.1% after +17.6%), games, toys and hobbies (+1.2% after +0.2%) and other appliances, articles and products for personal care (+8.7% after +8.2%). Contrariwise, the prices of clothing and footwear slowed down a bit (+2.3% after +2.4%) as those of vehicles (+6.6% after +7.0%), major household appliances (+5.7% after +6.5%), durable goods for outdoor recreation (+3.3% after +3.7%) and jewellery, clocks and watches (+3.8% after +4.4%). Finally, the decrease in health product prices softened slightly (‑0.5% after ‑0.6%).

Slowdown in energy prices year on year

Year on year, the prices of energy slowed down in February 2023 (+14.1% after +16.3%). The petroleum product prices decelerated sharply (+8.8% after +16.3%) due to the slowdown in prices of diesel (+8.0% after +17.5%), petrol (+6.4% after +9.3%) and liquid fuels (+14.0% after +28.7%). The prices of gas (+36.3% after +38.2%), as those of solid fuels (+40.5% after +45.5%), were slightly less dynamic than in the previous month. Contrariwise, the prices of electricity accelerated (+10.1% after +3.1%), linked with the supervised increase in regulated tariffs.

tableauDetailed figures for Core inflation and HICP

2015:100

Detailed figures for Core inflation and HICP (2015:100)
Items	Weight	Index	Percentage change
	2023	February 2023	m-on-m change (1)	y-on-y change (2)
Core inflation - All items	6057	112.75	0.9	6.1
Food excluding fresh products. meat. milk and exotic products	766	118.71	1.3	12.8
Manufactured products	1899	108.17	0.8	5.7
Services including actual rentals and services for dwellings	3392	114.34	0.8	4.6
HICP - All items	10000	118.55	1.1	7.3

(1) : [m/(m-1)]
(2) : [m/(m-12)]
Source: INSEE - Consumer Price Indices

Revisions

Compared to the provisional estimates published on 28 February 2023, the month-on-month and year-on-year changes in CPI and HICP were up by 0.1 points.