Consumer price inflation in France stood at 5.9% year on year in April due to a jump in energy prices while food prices slowed, the Insee, confirming its first estimate. Inflation had reached 5.7% over one year in March.
Energy prices accelerated by 6.8% over one year (against 4.9% in March), fueled in particular by gasoline prices. Gas prices have slowed significantly over one year, rising 22.9% in April after 35.6% in March, detailed the National Institute of Statistics.
Year on year, there was also an acceleration in service prices in April (+3.2% after 2.9% in March).
On the other hand, the increase in the price of food products was less rapid than in March, since their prices increased by 15% over one year after having reached 15.9% the previous month.
Fresh produce takes a break
Food inflation has become the main driver of inflation in 2023, supplanting energy. The slowdown in the rise in food prices in April mainly concerned fresh produce, the cost of which increased by 10.6% over one year, after jumping by more than 17.1% in March. Other food products increased by 15.8% over one year, a rate almost identical to that of the previous month (15.7%).
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The prices of manufactured goods, such as clothing, furniture or small household appliances, also slowed slightly over one year, growing by 4.6% over one year against 4.8% in March.
Core inflation, which excludes the most volatile elements such as energy and certain food products, and thus makes it possible to identify an underlying trend in price movements, rose to 6.3% over a year in April, after 6.2% in March. The harmonized index of consumer prices (HICP), used for Europe-wide comparisons, stood at 6.9% year on year in April, down from 6.7% in March.