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Inflation climbs to 4.8% and hits new records

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INSEE released inflation figures for April – 0.4%. By way of comparison, if we base ourselves on the figures for April 2021, inflation is 4.8% over one year and thus reached a level not seen since November 1985. Almost all products recorded a rising prices, with energy taking the lead.

Inflation reached 4.8% over one year in April, after 4.5% in March, INSEE said on Friday, confirming its first estimate published at the end of April. This level has not been seen since November 1985 and is explained by the sharp rise in prices of almost all categories of products, energy in the lead (+26.5%).

In April, the prices of food (+3.8%) and services (+3%) also accelerated significantly compared to the previous month, when they were up by 2.9% and 2.3% respectively. . In April 2022 alone, inflation is 0.4%.

The waltz of labels was particularly strong for food, with an acceleration in the rise in the prices of fresh vegetables and non-fresh products (meat, bread and cereals, oils and fats, etc.).

Inflation set to accelerate

Service prices are driven by transport services, in particular air transport, with prices up 22.4% in April, after +5.7% in March. Prices for manufactured goods also rose another 2.6%, after 2.1% in March.

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The only downward trending prices over one year are those of tobacco (-0.1%) and health products (-1.2%). The harmonized index (HICP), which serves as a basis for comparison at European level, increased by 5.4% year-on-year, after 5.1% the previous month.

Inflation should accelerate further in the coming months, with INSEE still expecting a price increase of 5.4% in June.

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