Global| Feb 21 2008French Inflation: Core and Headline Rates Move Higher
Summary
French inflation is showing pressure. In January the Yr/Yr HICP pace is up to 3.2% from 1.4% in the previous 12-month period. The CPI excl food and energy rate is up to 2% from 1.4% a year ago. The 3-month CPI excl food and energy [...]
French inflation is showing pressure. In January the Yr/Yr
HICP pace is up to 3.2% from 1.4% in the previous 12-month period. The
CPI excl food and energy rate is up to 2% from 1.4% a year ago. The
3-month CPI excl food and energy pace is a bit lower than it was over
six months, but it is still above the 2% mark. While the main CPI
categories show that 90% of them have inflation higher than it was a
year ago, 72% have higher inflation over six months that over 12-months
but only 54% have higher inflation over three months than over
6-months, Clothing and Communications inflation is cooling the fastest.
Education plus food and energy intensive categories show the most
inflation pressure.
| France HICP and CPI details | |||||||
|---|---|---|---|---|---|---|---|
| Mo/Mo % | Saar % | Yr/Yr | |||||
| Jan-08 | Dec-07 | Nov-07 | 3-Mo | 6-Mo | 12-Mo | Yr Ago | |
| HICP Total | 0.3% | 0.4% | 0.7% | 5.9% | 4.6% | 3.2% | 1.4% |
| Core | -- | 0.3% | 0.3% | -- | -- | -- | 1.4% |
| CPI | |||||||
| All | 0.4% | 0.3% | 0.6% | 5.4% | 4.0% | 2.9% | 1.3% |
| CPI excl Food and Energy | 0.2% | 0.2% | 0.2% | 2.6% | 2.8% | 2.0% | 1.4% |
| Food | 1.2% | 0.6% | 0.4% | 8.8% | 8.1% | 4.4% | 1.7% |
| Alcohol | 0.1% | 0.1% | 0.3% | 1.8% | 7.0% | 4.5% | 0.6% |
| Clothing & Shoes | -0.7% | 0.1% | 0.0% | -2.0% | 0.2% | 0.6% | 0.1% |
| Rent & Utilities | 0.5% | 0.6% | 1.1% | 9.0% | 6.7% | 4.7% | 3.3% |
| Health Care | 0.1% | -0.1% | 0.0% | 0.0% | 0.4% | 0.3% | 0.3% |
| Transport | 0.1% | 1.0% | 1.9% | 13.0% | 7.7% | 6.1% | 0.9% |
| Communication | -0.4% | -0.3% | 0.0% | -2.8% | 0.2% | -1.2% | -1.6% |
| Recreation & Culture | 0.0% | -0.3% | 0.2% | -0.6% | -1.6% | -1.3% | -1.8% |
| Education | 0.5% | 0.2% | 0.6% | 5.1% | 3.4% | 3.0% | 2.5% |
| Restaurant & Hotel | 0.4% | 0.3% | 0.2% | 3.3% | 2.5% | 2.8% | 2.7% |
| Other | 0.0% | 0.2% | 0.2% | 1.3% | 1.9% | 1.9% | 2.7% |
| Diffusion | -- | -- | -- | 54.5% | 72.7% | 90.9% | -- |
| Type: | Diffusion: Compared to | 6-mo | 12-mo | Yr-Ago | -- | ||
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
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