In November 2016, the Consumer Prices Index (CPI) remained stable over a month. Seasonally adjusted, it rose slightly (+0.1%) after a stability in October. Year on year, the CPI accelerated slightly, to 0.5% after +0.4% in the previous month.

This month-on-month stability resulted from a lower increase in energy prices and a modest rebound in food prices, offset by a fall in services and manufactured product prices.

Energy prices remained dynamic but slowed down (+0.9% after +1.3% in the previous month). However, year on year, they accelerated sharply (+2.1% after +0.7% the previous month).

The slowdown over a month came from that in petroleum product prices (+1.3% after +2.4% in October; +4,1% year-on-year). In contrast, town gas and natural gas prices, index-linked to the changes in oil prices with a time lag, picked up sharply (+1.5% after −0.7% in October; −5.7% year-on-year). Electricity fares were stable for the third consecutive month (+1.8% year-on-year).