2023-09-15 09:06:21
The consumer price index stood at 4.9% year-on-year in August, fueled by the “clear rebound” in energy prices, INSEE said on Friday, revising its first index upwards slightly. estimate (4.8%). Inflation marked a jump following the 4.3% increase over one year recorded in July.
It was fueled by energy prices which increased by 6.8% year-on-year in August (following a decline of 3.7% in July), due to the 10% increase in electricity prices. electricity and the rebound in gasoline prices. Food prices – one of the main drivers of inflation – continued to record a double-digit increase (11.2%), but marked a slowdown compared to July (12.7%).
Slowdown in the rise in prices of services
Prices of services (3%) and manufactured products (3.1%) also slowed. Unlike total inflation, underlying inflation, which excludes the most fluctuating elements such as energy and certain food products, and thus makes it possible to identify an underlying trend in the evolution of prices, was registered down to 4.6% year-on-year in August, following 5% in July.
The harmonized consumer price index (HICP), used for European-wide comparisons, increased from 5.1% in July to 5.7% in August.
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