Informations Rapides ·
12 January 2024 · n° 7
On average in 2023, slight slowdown in consumer prices Price Index – Annual average rates of change - year 2023
This document presents the annual average rates of change in the Consumer Prices Index (CPI) in 2023. The monthly and year-on-year rates of change in the CPI in December 2023 have been also published in another “Informations Rapides”.
The annual average and the year-on-year rate of change are two different concepts: the annual average rate of change refers to the whole set of prices observed in one year compared with all those observed in the previous year. The year-on-year change refers to the prices observed in a particular month compared with those observed in the same month of the previous year.
- Strong slowdown in prices of energy and transport services
- Sharp acceleration in food prices
- Acceleration in the prices of services for dwellings and “other services”
- Increase in manufactured product prices
- Decrease in prices of health services and communication
- A more or less pronounced increase of prices according to households
- For further information
On average over the year, consumer prices decreased slightly in 2023. The average annual inflation was up by 4.9% after +5.2% in 2022, +1.6% in 2021 and +0.5% in 2020. Excluded tobacco, consumer prices were also less dynamic than in 2022: +4.8% in 2023, after +5.3% in 2022. The decrease in inflation was driven by the sharp slowdown in energy prices (+5.6% after +23.1%). Conversely, the prices accelerated sharply for food (+11.8% after +6.8%) and more moderately for manufactured products (+3.5% after +3.0%). The rise in service prices was stable (+3.0% after +3.0%).
Core inflation was higher in 2023, reaching +5.1%, after +3.9% in 2022.
tableauAnnual average changes in consumer price index
| Items | Weight 2023 | Annual averages | Annual average rates of change | |||
|---|---|---|---|---|---|---|
| 2021 | 2022 | 2023 | From 2021 to 2022 (%) | From 2022 to 2023 (%) | ||
| a) All households – France | ||||||
| Overall | 10000 | 106,45 | 112,01 | 117,47 | 5.2 | 4,9 |
| Food | 1624 | 108,79 | 116,16 | 129,90 | 6.8 | 11,8 |
| Fresh food | 238 | 128,51 | 138,36 | 151,57 | 7.7 | 9,5 |
| Other food | 1386 | 105,72 | 112,72 | 126,51 | 6.6 | 12,2 |
| Tobacco | 185 | 155,69 | 155,78 | 168,30 | 0.1 | 8,0 |
| Manufactured products | 2322 | 98,22 | 101,19 | 104,70 | 3.0 | 3,5 |
| Clothing and footwear | 341 | 99,49 | 102,14 | 104,73 | 2.7 | 2,5 |
| Medical products | 384 | 87,28 | 86,24 | 85,62 | -1.2 | -0,7 |
| Other manufactured products | 1597 | 100,66 | 104,75 | 109,66 | 4.1 | 4,7 |
| Energy | 857 | 119,73 | 147,44 | 155,67 | 23.1 | 5,6 |
| Petroleum products | 432 | 120,53 | 155,48 | 152,76 | 29.0 | -1,7 |
| Services | 5012 | 106,44 | 109,63 | 112,90 | 3.0 | 3,0 |
| Actual rentals and services for dwellings | 744 | 103,01 | 105,06 | 107,99 | 2.0 | 2,8 |
| Health services | 639 | 102,21 | 102,12 | 101,89 | -0.1 | -0,2 |
| Transport | 301 | 104,12 | 114,94 | 122,14 | 10.4 | 6,3 |
| Communication | 208 | 100,22 | 100,81 | 97,16 | 0.6 | -3,6 |
| Autres services | 3120 | 108,99 | 113,06 | 117,50 | 3.7 | 3,9 |
| Total except rents and tobacco | 9219 | 105,86 | 111,88 | 117,47 | 5.7 | 5,0 |
| Total except tobacco | 9815 | 105,60 | 111,24 | 116,61 | 5.3 | 4,8 |
| b) Urban working-class households or households of employees | ||||||
| All products excluding tobacco | 9718 | 105,24 | 110,66 | 115,87 | 5,2 | 4,7 |
| c) Households that belong to the lowest equivalized disposable income quintile - France | ||||||
| All products excluding tobacco | 9700 | 105,15 | 111,00 | 116,60 | 5,6 | 5,0 |
- Geographical coverage: France excluding Mayotte until 2022, France since 2023
- Source: INSEE – Consumer Price indices
Strong slowdown in prices of energy and transport services
In 2023, the prices of energy slowed down sharply (+5.6% on average, after +23.1% in 2022) notably due to the partial downturn in petroleum product prices (‑1.7% after +29.0%). The prices of gas also slowed down (+14.3% after +40.9%), conversely those of electricity accelerated again (+12.9% after +7.4%).
The prices of transport services increased less on average than in 2022 (+6.3% after +10.4%).
Sharp acceleration in food prices
In 2023, food prices accelerated compared with 2022: +11.8% on average after +6.8%. Prices excluding fresh produces (+12.2% on average after +6.6%) accelerated more markedly than those of fresh food (+9.5% on average after +7.7%).
Acceleration in the prices of services for dwellings and “other services”
In 2023, the prices of services for dwellings (actual rentals, supply of water and refuse collection fees, sewage collection and heat energy) accentuated: +2.8% on average, after +2.0% in 2022.
On average, the prices of “other services” increased in 2023 at a rate close to 2022 (+3.9% after +3.7%).
Increase in manufactured product prices
In 2023, the prices of manufactured products rose by 3.5% on average after +3.0% in 2022. The prices of “other manufactured products” accelerated for the fourth consecutive year (+4.7% on average after +4.1%); conversely those of clothing and footwear slowed down slightly (+2.5% on average after +2.7%).
Decrease in prices of health services and communication
Health service prices kept decreasing slightly in 2023 (‑0.2% on average after ‑0.1%).
The prices of communication services turned down (‑3.6% on average after +0.6%) notably due to the accentuated decrease in prices of wireless telephone services (‑9.0% after ‑2.5%) and the slight downturn of those of bundled telecommunication services (‑0.1% after +3.8%).
A more or less pronounced increase of prices according to households
According to their consumption structure, households were subject to a global inflation more or less pronounced. In 2023, the increase in prices was on average the sharpest for households with a reference person between 60 and 74 years old (+5.1% after +5.8% in 2022) and the weakest for households with a reference person under 30 years old (+4.4% after +4.2%).
Furthermore, compared with average annual inflation for all households, inflation was 0.3 points above the average for owners and 0.2 points below for renter households. Households in the first decile of standard of living experienced inflation 0.2 points above average, households in the second decile 0.3 points above average.
tableauAnnual average changes in consumer price index by type of household
| Type of household | Annual averages | Annual average rates of change | |||
|---|---|---|---|---|---|
| 2021 | 2022 | 2023 | From 2021 to 2022 (%) | From 2022 to 2023 (%) | |
| a) By age range of the reference fiscal person | |||||
| Under 30 years | 105.35 | 109.76 | 114.60 | 4.2 | 4.4 |
| Between 30 and 44 years | 106.27 | 111.50 | 116.81 | 4.9 | 4.8 |
| Between 45 and 59 years | 106.75 | 112.47 | 118.14 | 5.4 | 5.0 |
| Between 60 and 74 years | 106.84 | 113.00 | 118.72 | 5.8 | 5.1 |
| 75 years and more | 106.78 | 113.28 | 119.17 | 6.1 | 5.2 |
| b) By tenure | |||||
| Owner | 107.07 | 113.50 | 119.38 | 6.0 | 5.2 |
| First-time buyer | 106.53 | 112.17 | 117.62 | 5.3 | 4.9 |
| Renter | 105.82 | 110.51 | 115.65 | 4.4 | 4.7 |
| c) By disposable income distribution | |||||
| 1st decile | 106.37 | 112.19 | 117.88 | 5.5 | 5.1 |
| 2nd decile | 106.57 | 112.26 | 118.09 | 5.3 | 5.2 |
| 3th decile | 106.62 | 112.19 | 117.77 | 5.2 | 5.0 |
| 4th decile | 106.33 | 111.68 | 117.17 | 5.0 | 4.9 |
| 5th decile | 106.74 | 112.42 | 118.00 | 5.3 | 5.0 |
| 6th decile | 106.56 | 112.41 | 117.93 | 5.5 | 4.9 |
| 7th decile | 106.58 | 112.10 | 117.43 | 5.2 | 4.7 |
| 8th decile | 106.26 | 111.58 | 116.91 | 5.0 | 4.8 |
| 9th decile | 106.69 | 112.51 | 118.18 | 5.5 | 5.0 |
| 10th decile | 106.36 | 111.88 | 117.25 | 5.2 | 4.8 |
| All households – France | 106.45 | 112.01 | 117.47 | 5.2 | 4.9 |
- Geographical coverage: France excluding Mayotte until 2022, France since 2023
- Source: INSEE – Consumer Price indices
For further information
Next publication of annual average results: January 2025.
Documentation
Methodology (pdf,131 Ko)
Pour en savoir plus
Next publication of annual average results: January 2025.