The year-on-year rise in prices was 4.8% in April, already reaching a high in nearly 37 years.
In May, prices rose for all consumption items listed by the National Institute of Statistics, with a new surge in energy in particular.
“After their decline the previous month, energy prices should recover in line with the rebound in the price of petroleum products”, details INSEE, while the war in Ukraine has caused commodity prices to soar.
They thus accelerated by 28% over one year, after a rise of 26.5% in April.
Food prices rose by 4.2% (3.8% last month) and those of services by 3.2% (3% in April).
Within food products, the surge in prices is particularly marked for meat, pasta and flour.
Their selling price was thus up by more than 10% over one year in May, according to data from the specialized research firm IRI.
– Widespread phenomenon –
After being driven for months by the rise in energy prices alone, “inflation is very clearly becoming a generalized phenomenon,” said ING France economist Charlotte de Montpellier.
“In all major categories, inflation is therefore now above the 2% target” set by the European Central Bank, she underlines.
Basis of comparison between European countries, the harmonized consumer price index (HICP) would increase by 5.8% over one year in May, after 5.4% in April according to INSEE.
The comparison between France and its European neighbors remains however rather flattering, German inflation having recorded a new record on Monday (7.9% over one year in May).
On Tuesday morning, the euro zone also reached a new peak with an inflation rate of 8.1% over one year according to Eurostat, up sharply from the rate of 7.4% recorded in April.
Finally, in Spain and Italy, the rise in prices accelerated again in May after a slowdown in April.
In the United States, on the other hand, two recent indicators pointed to a slowdown in inflation in April, even if it remained at an exceptionally high level.
INSEE is due to publish its final estimate of inflation in May in mid-June. In its latest economic report, the institute predicted inflation of 5.4% over one year in June.
