Europe1 .fr with AFP 09:39, June 15, 2023

Inflation slowed in May, falling to 5.1% year-on-year, due to the slowdown in energy and food prices, INSEE said Thursday. This phenomenon can be explained in particular by the fall in the prices of petroleum products and, to a lesser extent, that of gas prices.

Inflation slowed in May, falling to 5.1% year-on-year, due to the slowdown in energy prices as well as those of food, said Thursday INSEE, confirming its first forecast. Consumer prices rose by 5.9% year-on-year in April.

Energy prices slowed down in May (2% after 6.8% in April) due to lower prices for petroleum products such as diesel, detailed the National Institute of Statistics. The rise in gas prices is slightly less sharp (21.6% after 22.9%) while those of electricity have not marked any respite (+ 11.3% after + 11.2%).

Fresh produce doesn't slow down

Having become the main driver of inflation ahead of energy, food prices rose by 14.3% year-on-year in May, slightly less than in April (15%). "Excluding fresh products, food prices are slowing down for the first time since September 2021" (14.9% after 15.8%), said INSEE, but "the prices of fresh products are increasing at a rate comparable to that of April" (10.7% after 10.6%).

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In detail, while the increase is easing for the prices of bread, cereals, meat, milk, cheese, eggs, oils, fruit or fresh fish, it is accelerating for sugar, jam, honey, chocolate, confectionery or fresh vegetables.

Inflation is also lower over one year for manufactured goods (4.1% after 4.6%) and services (3% after 3.2%). Core inflation, which excludes the most volatile elements such as energy, and thus allows a basic trend in price developments, rose to 5.8% year-on-year in May, after 6.3% in April.