inflation slows in September to 5.6%, according to a provisional estimate

The rise in consumer prices in France slowed in September, to 5.6% over one year, against 5.9% in August, according to provisional data published Friday by INSEE. This decline in inflation is due to the “slowdown” in the rise in energy and services prices, explains the National Institute of Statistics in a press release, while the rise in food prices is accelerating and that that of manufactured products is continuing at a rate close to that of the previous month.

After August, this is the second slowdown in consumer price inflation in France year-on-year since July 2021, when inflation was limited to 1.2%. Over one month, consumer prices fell back by 0.5%, after +0.5% in August. “For the third consecutive month” energy prices fell “in the wake of oil product prices”. The increase over one year is 17.8%, against +22.7% in August.

A contrasting slowdown depending on the sector

The seasonal fall in the prices of certain tourism-related services was “more marked” than last year, notes INSEE concerning their monthly evolution. Over one year, the rise in service prices slowed to +3.2% in September against +3.9% the previous month. Over the same period, that of food prices rose 9.9% in September. The prices of fresh products increased by 11% over the same period, against +3.5% in August. The rise in the prices of manufactured products continued moderately (+3.6% against +3.5% in August).

Finally, the harmonized consumer price inflation index (HICP), which serves as a basis for comparison at European level, increased by 6.2% over one year in September, against 6.6% in August. Over one month, the HICP fell by 0.5%, against +0.5% the previous month.