How to track consumer price movements? Published on 15 November 2024 at 14:11
In a context of rising inflation, it is essential to monitor the evolution of consumer prices in order to anticipate its impact on household purchasing power. Here are some resources and indicators that can help you follow these developments.
Official statistics
INSEE publishes several indicators to measure inflation:
- Consumer Price Index (CPI): This is the most comprehensive indicator of consumer price movements. It measures the change in the prices of a basket of goods and services representative of household consumption. The CPI is published monthly and is used to calculate the inflation rate.
- Harmonised Index of Consumer Prices (HICP): This index is calculated using the same methodology in all European countries. It is used to compare inflation rates between countries and to monitor compliance with the European Central Bank’s inflation target of 2%.
These indices are available on the INSEE website: www.insee.fr/fr/statistiques/serie/001767434
Private indices
Several private companies also publish consumer price indices:
- Observatory of Household Consumption (OIC): This observatory publishes a monthly consumer price index based on data collected from a panel of households. The OIC index is available on the website: www.observatoiredelaconsommation.org/
- Consumer Price Observatory (OPC): This observatory publishes a monthly consumer price index based on data collected from a panel of retailers. The OPC index is available on the website: www.observatoire-des-prix.fr/
Indicators by sector
Some sectors publish their own price indices:
- Real estate: The Notaires de France publish a quarterly real estate price index. This index is available on the website: www.notaires.fr/fr/immobilier/marche-immobilier/prix-immobilier
- Energy: The Energy Regulatory Commission (CRE) publishes monthly gas and electricity price indices. These indices are available on the website: www.cre.fr/en/statistics/price-indices
How to choose the right indicator?
The choice of indicator depends on the level of detail and accuracy required. For a general overview of consumer price movements, the CPI or HICP are the most appropriate indicators. For a more specific analysis of a particular sector, it may be necessary to refer to a sector-specific index.
Impact on household purchasing power
The evolution of consumer prices has a direct impact on household purchasing power. When prices rise, the purchasing power of households decreases, as they can buy less with the same income. Conversely, when prices fall, the purchasing power of households increases.
To assess the impact of inflation on household purchasing power, it is necessary to compare the evolution of prices to that of household income. If prices rise faster than income, purchasing power will decrease. Conversely, if prices rise slower than income, purchasing power will increase.
Conclusion
Monitoring the evolution of consumer prices is essential to anticipate its impact on household purchasing power. Several resources and indicators are available to help you follow these developments. The choice of indicator depends on the level of detail and accuracy required.
Comment suivre l’évolution des prix à la consommation ?
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