"This decline in inflation would be due to the year-on-year slowdown in energy prices (...) manufactured products and services", but also food, up 14.1% year-on-year in May after growing 15% in April, says the National Institute of Statistics and Economic Studies (INSEE).
The increase in the price of fresh products (+10.4% over one year) continued at almost the same pace as in April (+10.6%), but the cost of other food products rose less rapidly (14.8% against 15.8% in April).
The disinflation is even sharper for energy, whose prices rose 2% year-on-year in May, after a jump of 6.8% in April and double-digit growth in recent months.
The cost of manufactured goods (+4.1% year-on-year in May) and services (+3%) is also decelerating, but less rapidly.
Tobacco, whose cost jumped 9.8% year-on-year in May, is the only exception to the disinflation movement and its price accelerates for the third consecutive month, notes INSEE.
The harmonised index of consumer prices (HICP), a reference indicator for comparisons between European countries, rose by 6% year-on-year in May, almost one point lower than in April (+6.9%).
INSEE is due to publish a second estimate of inflation in May in mid-June.
© 2023 AFP