According to the final report from INSEE, in April consumer prices rose by 0.6%, as expected, after increasing by 0.9% in March. Energy prices decreased by 0.7%, which was due to a drop in prices for gas (-3.8%) and petroleum products (-0.6%). Food price growth slowed to 0.6% from 1.8% in March, while prices for manufactured goods increased by 0.3% after rising by 1.5% in March. Meanwhile, the growth of prices for services accelerated to 1.0% from 0.1%, which was caused by a significant increase in prices for transport services (+8.1% after a decrease of 1% in March).
In annual terms, CPI growth accelerated to 5.9%, as expected, from 5.7% per annum in March. This increase in inflation resulted from an acceleration in prices of energy (+6.8% after +4.9%), services (+3.2% after +2.9%) and tobacco (+9.4% after +7.8%). Contrariwise, the prices of manufactured goods (+4.6% after +4.8%) and food (+15.0% after +15.9%) slowed down. Meanwhile, the growth of the core CPI accelerated in April by 0.1%, to 6.3% per annum.
The data also showed that in April, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in France with inflation in European countries - grew by 0.7% on a monthly basis and by 6.9% per annum.