June 24, 2022

Monthly change: +0.7% in May; year-on-year change: +5.2%

In May 2022, the Consumer Price Index (CPI) in France rose by 0.7% over one month, after +0.4% in April. The prices of energy recovered (+1.6% after −2.5%) linked with the rebound in petroleum product prices (+2.9% after −6.8%). Those of manufactured goods maintained at the same level as in April (+0.5%). The increase in food prices is clear but less sustained than in the previous month (+1.0% after +1.4%). The prices of services also slowed down (+0.5% after +0.7%).

Seasonally adjusted, consumer prices rose by 0.6% after +0.5% in April.

Year on year, consumer prices grew by 5.2% after +4.8% in April. This increase in inflation resulted from the acceleration of energy (+27.8% after +26.5%), service (+3.2% after +3.0%), food (+4.3% after +3.8%) and manufactured good prices (+3.0% after +2.6%).

Increase in core inflation year on year

Year on year, core inflation grew in May, up to +3.7%, after +3.2% in April. The Harmonised Index of Consumer Prices (HICP) rose by 0.8% over one month, after +0.5% in April; year-on-year, it increased by 5.8% after +5.4% in the previous month.

Acceleration in energy prices year on year

Year on year, the prices of energy accelerated in May (+27.8% after +26.5%). Those of petroleum products increased again (+36.7% after +34.0%) in link with the prices of diesel (+35.2% after +34.3%) and petrol (+24.2% after +17.4%). The prices of gas accelerated (+55,0% after +54.4%) and those of electricity slowed down (+6.5% after +6.9%).

Source: Statistical Office of France
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