French inflation continues to rise but food price hikes slow
Energy prices fueled another rise in the country’s overall inflation
The inflation rate of fresh food in April 2023 did not rise as much as in March, new figures show
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Consumer prices rose by 5.9% in April compared to this time a year ago, new figures reveal.
Data from France’s national statistics bureau Insee shows a slight rise in overall inflation compared to March when it was 5.7%
April’s hike was caused by a rise in energy and ‘service’ prices, it said. The price of tobacco also rose.
In contrast, inflation for fresh food slowed, while prices for non-fresh items were at a stable rate compared to the month before. Year-on-year, the price of manufactured products in April was close to that seen in March.
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Fresh food: Rose by 10.2% year-on-year for April 2023, compared to 17.1% for March 2023
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Other food: Up 15.8%, compared to 15.7% for March
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Energy: Up 7%, compared to 4.9% for March
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Tobacco: Up 9.4%, compared to 7.8% for March
Read also: Are France’s measures to tackle food price rises working?
Overall, consumer prices rose by 0.6% in April 2023 compared with March.
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The figures refer to the indice des prix à la consommation harmonisé (IPCH), or the Harmonised Index of Consumer Prices (HICP). This is the major indicator that European Union countries use to measure inflation and price stability for the European Central Bank.
It comes after the Banque de France predicted in February that inflation could begin to fall from June.
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