Inflation accelerates slightly in May, to 2.3% year-on-year

The price increase in France in May was 2.3% over one year, or 0.1 point more than in April, INSEE announced on Friday June 14. In its first estimate, at the end of May, the institute initially expected inflation to be 2.2% in May. “This slight increase in inflation results from a further acceleration over one year in energy prices” and food prices, specifies the institute.

Over a year, energy prices are accelerating, because the prices of petroleum products “fell over one month between April and May 2024, but fell more significantly between April and May 2023, thus generating an increase in inflation over one year”, explains INSEE. Food prices increased by 1.3% in May year-on-year, compared to 1.2% in April, and those of services by 2.8% in May year-on-year compared to 3% in April. The prices of manufactured products are stable.