However, the overall trend masks significant disparities among various sectors.
Prices in the food sector continued their uninterrupted upward trajectory since October 2021, with a further 0.3% increase in May.
Notable increases compared to the previous month were observed in baby food (+3.6%), pasta and couscous (+2.5%), and potatoes (+2.1%).
Conversely, fresh vegetables (-3%) and fresh fish (-2.6%) experienced price decreases compared to April. Alcoholic beverages also exhibited price fluctuations, with wine rising by 1.8% and beer falling by 2.3% compared to the previous month.
On a year-on-year basis, food prices have surged by 12.5%, while alcoholic beverages have risen by 10%.
Inflation was bolstered by a 2.6% increase in the price of domestic services in May. This data series is derived from an administrative file containing salaries of individuals responsible for household chores in private residences. Due to a three-month delay in incorporating the data into the consumer price index, this rise reflects the implementation of wage indexation in February 2023.
Price hikes were also observed in crèches and children’s day-care centres (+4.5%), restaurants (+0.5%), as well as hotels, motels, and inns (+3.9%).
The aggregate for petroleum products continued its downward trajectory.
Households that have refilled their oil tanks experienced a 12.1% decrease in costs compared to the previous month.
At the pump, the price of diesel declined by 5.8%, while the price of a litre of petrol dropped by 3.7% within a month. The prices of petroleum derivatives in the index basket were 13.9% lower than in May 2022.
Declines in passenger transport by air and mobile phone services had a notable impact on inflation, with -4.2% and 2.7%, respectively.
The underlying annual inflation rate also decreased by 0.1 percentage points to 4.8% in May.
The general index for May, based on a 2015 reference of 100, reached 120.07 points. The semi-annual average of the index linked to the 1.1.1948 base increased from 972.61 to 975.66 points. The next wage indexation will be triggered when the value reaches 988.75 points.
