According to the final report from INSEE, consumer prices rose by 0.5% in April, as expected, accelerating compared to March (+0.2%). This increase is driven by the prices of services (+1.0% after 0.0%), trained by transport (+5.6% after -0.9%) and insurance services (+3.6% after -2.4%) and a slight increase of those of food (+0.1% after 0.0%). Over one month, the prices of manufactured products and tobacco were stable (after respectively +1.3% and +1.4%). Energy prices fell at a slower pace than in the previous month (-0.3% after -0.7%).
In annual terms, CPI rose by 2.2%, as expected, after rising by 2.3% in March. It marked the lowest level since September 2021. This decrease of inflation resulted from the year-on-year slowdown in the prices of food (+1.2% after +1.7%), and tobacco (+9.0% after +10.7%). The prices of manufactured products fell back (‑0.1% after +0.1%). While services prices rose at the same rate as in March (+3.0%). Conversely, the prices of energy accelerated (+3.8% after +3.4%).
Meanwhile, the core CPI grew by 1.9% per annum, slowing down compared to March (+2.2% 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 - rose by 0.6% on a monthly basis and by 2.4% per annum. In March, HICP increased by 0.2% for the month and by 2.4% per annum.