In December, inflation slowed to 5.9% over one year in France according to the latest INSEE figures published on Wednesday. In November, inflation was 6.2% in November.
However, this decline may only be temporary, as the National Institute of Statistics warned last month that inflation is expected to peak at 7% in early 2023, before declining more sustainably from March.
Over a year, inflation continues to be driven by the rise in energy prices, which jumped by 15.1%, and that of food products, up very sharply by 12.1%, while the rise in the prices of manufactured goods remains limited to 4.6%, and that of services is even more contained, at 2.9%. Over one month, prices fell by 0.1% in December compared to November, against an increase of 0.3% the previous month, due to the drop in energy prices at the end of the year.
The rebound in inflation anticipated by INSEE for the start of the year is linked in particular to the 15% increase in regulated energy prices expected in early 2023, those of gas to be raised in January and those of electricity in February. Finally, the harmonized index of consumer prices (HICP), which serves as a basis for comparison at European level, slowed more sharply than the CPI in December, the rise over one year falling to 6.7%, against 7 .1% in November.