INSEE Report: Inflation Rate for April 2024 Confirmed at 2.2%, Continuing Slowdown

Easing Inflation Pressures: A Closer Look at Consumer Price Trends in France

Inflation rates have decreased slightly, dropping from 2.3% in March to 2.2% in April. According to INSEE, consumer prices rose by 0.5% over one month and 2.2% over one year, confirming their initial estimates. This decline is attributed to a slowdown in the prices of food and tobacco, helping to lower overall inflationary pressure.

On an annual basis, prices of manufactured products also decreased, with a 0.1% drop in April following a 0.1% increase in March. Specifically, the prices of “other manufactured products” have remained stable over one year, with some categories like furniture, stationery, cleaning products, and large household appliances seeing price decreases. Health product prices dropped in March by 1.4%. These declines were offset by price increases in certain manufactured products like new automobiles.

INSEE noted a slight acceleration in the consumer price index in April, mainly due to increases in service prices, particularly in transport and insurance, as well as energy costs and a slight rise in food prices. The harmonized consumer price index (HICP), which is used for comparing inflation levels in EU countries, also saw an increase in April, with a 2.4% rise over one year.

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