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Accommodation: aid refocused

Wednesday, September 14th, 2011

In full preparation of the Finance Act 2012, the government wants to reform the system help to improve the energy quality of housing. The daily Les Echos, the measures will be refocused to encourage the most effective work.

The reform provides for the extension of the tax credit for sustainable development – given to households who install a heat pump or insulate their roof … – Until 31 December 2015. The credit will be enhanced even when the fireplace combine the installation of multiple devices. The Department of Ecology has also provided several scenarios in which the tax benefit may be increased to 50% instead of 13% to 45% today awarded based on the equipment installed.For roof insulation, for example, the owner will add those walls and piping fast cash advance loan.

The return of accumulated tax credit – eco-PTZ

Canceled earlier this year, the cumulative tax credit and an eco-interest loan will become possible, under certain conditions. The government plans an income ceiling set at 30,000 euros annually. In addition, households will still opt for the tax credit or the interest-free loan. The repayment period of the latter will also be extended to 15 years instead of 10 now.

In against part of the aid extended, the government will however reduce the benefits to other work. The list of eligible acts will be tightened, and a movement of the plane of 10% will be applied to the current subsidy rate.

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Gucci ready to accelerate its expansion in China

Sunday, September 11th, 2011

Nanning, capital of the Guangxi region on the border of Vietnam, is the thirty-second Chinese city in which Gucci is settled in a few weeks. After opening nine stores in mainland China last year, and as much this year, including Gucci has 48 stores in late December, seven times more than in 2005.

At the time, François-Henri Pinault, PPR's CEO, decided to focus on China so that Gucci will catch up with Vuitton. "We still have room for significant expansion for store openings, says François-Henri Pinault. And to establish ourselves in cities where we are still not present. "If Beijing and Shanghai seem saturated with luxury boutiques, the potential is huge elsewhere in China.

News consumption

According to McKinsey, the growth of the Chinese luxury market, which will reach 19.5 billion euros in 2015 (against 7.4 billion in 2008), comes to nearly 80% of new consumers of luxury goods. And three-quarters of the 2.8 million new wealthy families (annual disposable income above 25 000 euros) will be living outside China's major cities. Gucci could increase the number of openings next year, and opened more than ten stores, including several in new cities. A figure that PPR declined to comment, but said a plan to finish Hothot (Inner Mongolia) in 2013.

"In some mining towns, just 2,000 wealthy individuals to establish a customer, provides Mimi Chang, the owner of the luxury division for Asia.We offer a VIP service to everyone. "

Gucci is present in cities (Chongqing, Guiyang, Hefei, Changzhou, Jinan, Shijiazhuang), where Louis Vuitton, the world's leading brand of luxury, has not printed the monogram direct payday lenders. The subsidiary of LVMH has instead decided to take a break from the pace of openings in China, preferring to expand some existing shops (38 in 28 cities in mainland China), to present all its collections, with, Also bags and luggage, ready-to-wear, shoes and watches, sometimes more than 1000 square meters. One way to avoid repeating the mistake made by some brands in the 1990s in Japan. "Gucci has not enough history to be strong in all categories of products and open many flagships, says François-Henri Pinault.But perhaps we will open in the future. "Gucci prefer open shops only 400 square meters, with only the supply of leather goods, as well as outlets that are only offering men and children. "We prefer the shops not very large and welcoming with huge stores and cold," said François-Henri Pinault.

The strategy is complicated to implement. Not only because it is difficult to find sites for boutiques in secondary cities. But also because consumer habits are different.If the Chinese fans prefer the luxury of more and more high-end pieces, leather and discreet, the new rich want to see success with products at affordable prices in fabric and adorned with logos.

Purchasers of Gucci China, who go five times a year in Florence, the birthplace of the brand, to make their selection, must make the splits. The range varies from store to store. Gucci watch to keep a wide range to suit all tastes of luxury, design special pieces for the Chinese market and seasonal products. Objective: To deter the Chinese to defer their purchases while traveling in Europe, where prices are 15-20% lower due to the lack of import tax.

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Expected to increase conservative Wall Street this afternoon

Wednesday, August 31st, 2011

Shortly before the opening of the New York Stock Exchange, the index futures Standard & Poor's 500 and Nasdaq 100 advanced 0.91%, respectively, to 1215.80 points and 2246.25 points to 0.86%, leaving hope for a beginning of the session up. The Dow Jones was expected to share up 0.79% at 11,583 points.

U.S. investors, it seems, was reassured, once last night, by the tone of "minutes" of the last monetary policy committee of the Fed. This report has indeed confirmed that the U.S. central bank did not rule to use new tools of monetary easing to support growth ever more threatened. A perspective that also prompted the European markets to rebound on Wednesday morning, when he had closed the previous day on a mixed note.Also in the interests of peace, the United States, President Barack Obama said on Tuesday that the U.S. economy had a "heart attack" she was recovering at a slow pace as he prepares to unveil a new stimulus package.

Meanwhile, the volume still low despite the likely return of holidays for most investors, however, reflect a cautious market that continues. The current rebound, often excessive, thus remain fragile, the sudden relapse is, at every moment possible. And the meeting this Wednesday is evident, in this regard, not without risks.

The employment figures highly anticipated

Indeed, investors should react in particular the results of the ADP survey of employment in the private sector for the month of August, to be unveiled at 2:15 p.m. before, so the opening of Wall Street.The Chicago PMI index of industrial activity for the month of August, from 3:45 p.m., will also be closely monitored. Orders to industry for the month of July (1600) and the weekly oil inventories (16:30) conclude the list of publications of macroeconomic days.

On the corporate side, the American phone AT & T (1.23% on Tuesday in closing) pledged Wednesday to repatriate to the United States currently filled 5,000 jobs in its call centers overseas, where the green light to the acquisition challenged T-Mobile, the U.S. subsidiary of Deutsche Telekom.These employees will be "well paid", assured the group in a statement, recalling that he was the only major U.S. telecom operators to accept unions in its stores.

Bank of America (-3.21%) is preparing to further reduce its scope of activity in the mortgage, by stopping the sale of mortgage loans through independent agents, said Wednesday the Wall Street Journal, citing people close the file.

Hewlett-Packard (-0.26%) will temporarily restart production of its TouchPad Tablet, whose sales soared since the U.S. computer giant announced mid-August that he would cease to manufacture. HP announced on August 18 a sudden change in its strategy, through the cessation of production of its new tablet and its smartphones using the operating system of Palm webOS.HP also plans to separate its activities from production computers to refocus on software.

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Wall Street should remain on guard

Thursday, August 18th, 2011

The session promises to be volatile on Wall Street on Wednesday, a day after closing in the red. In just over two hours of opening, the futures contract on the Dow is at equilibrium (0.02% at 11,389 points), as did the S & P 500 (0.03% to 1192 points). One on the Nasdaq was down 0.20% to 2195 points.

The markets seem to be torn between the desire to focus on quarterly results released last night or expected, and the wrong signals sent by the European and Asian markets. They are disappointed with the proposals of President Nicolas Sarkozy and German Chancellor Angela Merkel. The two leaders, who gathered to discuss the governance of the euro area, have not provided a response to the concerns of investors about the debt crisis in the euro area.Of course, a battery of measures was announced: economic government of the euro area, "golden rule" budget, tax on financial transactions, fiscal convergence. But Germany and France have ruled out a strengthening of the European emergency fund (EFSF) and the creation of Eurobonds, measures eagerly awaited by the markets.

"The concerns of investors are unlikely to dissipate anytime soon and could increase the pressure against the European leaders' strategists warn of Crédit Agricole CIB. "We are concerned that investors not only in the short term this framework must also be approved by all other countries and which offers no short-term response to the problems that worry the markets," added the manager of Barclays scholarship.

Oil up

In this context, operators will try to focus on indicators of the day.Before the opening, the Labor Department will release the index of producer prices. Weekly oil inventories will follow. Investors expect a decline in reserves, which pushed the futures contract on a barrel of "light sweet crude" for delivery in September rose 1.19% to 87.68 dollars.

Note the side of the currency, the attempt to rebound in the euro against the dollar. After being battered in the Asian trade, the single European currency recovers. Around 11:30 in Paris, the euro bought 1.4450 dollars against 1.4406 dollars late Tuesday.

The values of the day

News companies are also responsible for:

The Dell IT group has published Tuesday profit up 63% in the second quarter to $ 890 million, or earnings per share of 54 cents higher than expected. But the group has revised its annual sales targets downward.

Analog Devices reported last night for its third fiscal quarter, net earnings rose to 219.9 million dollars. But the group has disappointed analysts by saying that he expected an exaggerated caution of customers in a context of growing global economic uncertainty.

Abercrombie must report before the market opens its second quarter results. Ls forecasts indicate a profit of 29 cents per share and a turnover of 916.8 million dollars.

Deere also has pre-market release the results of its third fiscal quarter. The benefit should be 1.66% per share, according to economists.

Staples will announce its second quarter results, as Hot Topic, Limited Brands and Petsmart.

The banking sector battered yesterday after the European project for the taxation of financial transactions, will also be monitored.

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The Fed is concerned about growth

Wednesday, August 10th, 2011

After the European Central Bank (ECB), it's time for the U.S. Federal Reserve (Fed) to dive into the arena. The Central Bank of the United States met on Tuesday FOMC's Monetary Committee. Supposed to be, usually, a meeting classic, this appointment has turned the eyes of the financial world in crisis meeting. It is indeed the first time the Fed meets in public since the beginning of the financial crisis and especially his first public speaking since the deterioration of the financial rating of the United States by Standard & Poor's.

Not surprisingly, it has maintained its key interest rates between 0% and 0.25%. However, she said that this policy would be extended "until mid-2013," sign it receives considerable stress on growth. In fact, she says, "the risks to the economy rose" and growing "considerably slower than expected."

Other measures

"The Fed is playing a tough game with the words, it must show it is taking the situation seriously, without making too much not that the markets are worried about a return to recession," said Philippe Bruneau, Director central bank Neuflize OBC. For the latter, "the only good news for the current crisis is the drop in oil prices, which dropped below the 80 dollars a barrel after reaching $ 115 in the spring. A decrease of $ 10 is equivalent to 0.3 percentage point of growth in addition to the United States. " It is not certain that the message of this evening of the Federal Reserve reassured. Especially since three members of the Monetary Committee voted against the decision to keep rates from 0 to 0.25% until 2013.Evidence that the division now also prevails in the central bank.

Taking note of the slowdown in action, the Fed said "consider further steps to promote stronger economic growth." But without saying more. "Ben Bernanke was forced to send a message to investors and told them that he will continue to support the price of U.S. government bonds, weakened by the S & P's decision," said Antoine Brunet, director of AB Markets.But by not precise commitments, Ben Bernanke shows how the scope is narrow to implement this new policy unconventional.

China, the first lender in the United States which it holds more than 1.3 trillion dollars in debt, is fiercely opposed to these measures, particularly in quantitative easing, which is for the Fed to directly purchase U.S. Treasury debt. "To walk the printing press allows the U.S. to go into debt on the backs of low-cost external creditors," a summary of the economists of HSBC. Moreover, "it keeps the dollar at low levels and put pressure on emerging currencies, including the yuan." The Chinese authorities find themselves faced with an alternative: let their currencies appreciate or prevent this movement, which requires in turn create the currency.Action inconsistent with their goal to fight against inflation (see cons below). "In one way or the other, China is losing, 'the experts of HSBC. The previous quantitative easing campaign was very unpopular in China. A new one could cause actual casus belli. With the key threat by Beijing to stop buying U.S. Treasuries.

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Sponsors: "Lacourt can thank Manaudou"

Wednesday, July 27th, 2011

Lefigaro.fr – Since his triple gold medal at the European Championships in Budapest in 2010, Camille Lacourt has increased its advertising contracts. How does the commercial success he started?

Jean-François-Salessy After his success in Budapest in August 2010, Camille has indeed come to me with Fabien Gilot Ménart and William, all three members of the Swimming Club of Marseilles, so we work together. In less than 24 hours in September 2010, and even if I was going to take a year off, it was decided. Camille's situation was a bit special because it suddenly goes from darkness to light, and was approached by many brands, especially in the beauty and cosmetics.We are closer to Clarins and their way of approaching things convinced us to work with them, rather than with other brands, less respectful of the requirements for driving a top athlete. The first six-year contract (to 200,000 euros per year, ie), indexed on the results of Camille and with a conversion clause, was based on what competitors offered. It was a beautiful first contract. We have also partnered with the OEM Tyre, which is unusual since Camille involved in the development and technical improvement of products it uses. He is also interested in the sale of these products, between 10 and 15% of sales according to the ranges.

French swimmers are they becoming future footballers?

I do not believe, and I do not want to turn into Camille Lacourt Christmas tree.We will announce in September a new partnership with a ready-to-wear, but it should be the last. He is now fine partnerships should not be wasted by "selling" in all directions. When talking about total earnings of Camille Lacourt (estimated this year to 700,000 euros ed), we forget that it is barely a month's salary football star. On the other hand, it is undeniable that the French swimming much more interested in brands and sponsors that there are six or seven years. I think Camille can say thank you to Laure Manaudou, who opened a gap, taking the very strong public support. It is no secret: it has made this popular sport, which attracted the public, media and sponsors. Today these brands look like a real sport discipline of competition, with major events and boys and girls out of the ordinary …who is a potential advertising. In a few months, these boys and girls who emerge may tell themselves, thank you to Camille Lacourt!

Jeremy just Stravius, who also athletic Tuesday, he may steal the show with brands?

It is a bit simplistic to look at it that way. Each swimmer to his personality. Camille Lacourt someone is authentic, casual and simple, has a rather glamorous image. This is not a scoop. But by winning yesterday with Jeremy Stravius his world title in 100 meter backstroke, he also confirmed that he had not physically beautiful, he had another dimension. Which was very important to us because being European champion was not enough.If that fails, many would have indeed been delighted to say that he had lost in the advertising contracts and partnerships! The next objective is to confirm the sporting dimension to the London Olympics in 2012 (which would also provide the swimmer performance related bonuses as part of its contracts with Clarins and Tyre, ed.) For his part, Jeremy Stravius has the best performance of his career. I am not his agent but I think its position corresponds to a different segment than Camille. His image more reassuring, more associated with strength, may be of interest to companies in the energy sector, banking or insurance. Like Alain Bernard for example, and partnerships with EDF Assurances or April.

Asia market falls into the red

Monday, July 25th, 2011

Earlier this week in the red for the Asian markets. While the euro area has managed to agree on a bailout of Greece, the markets are now focusing on the United States where members of Congress have tried again Sunday to reach an agreement on raising the ceiling debt, but without success. As discussions get bogged down, operators are looming deterioration of the U.S. debt. A nightmare scenario envisioned by the markets to nine days of the deadline mentioned by the Treasury before a default.

At the Tokyo Stock Exchange, the Nikkei, which started on a decline of 0.51%, has cut its losses during the meeting. An hour of closing, he gave up 0.79% at 10,052 points. The market was particularly weighed down by further appreciation of the yen against the greenback. In morning trading, the dollar is worth 78.35 yen against 78.47 Friday.Export values suffer, just like Sony (-2.05%), Honda Motor (-0.93%) and Toyota (-1.05%).

The concerns are the same in the rest of the region. The Stock Exchange of Hong Kong and Shanghai respectively lost 0.79% and 2.10%. In Hong Kong, the banking sector is battered. HSBC 0.77% loose. In Korea, the Kospi was down 0.81% while in Australia, the S & P gives up 1.48%. Only the Indian Sensex manages to remain in the green, up 0.13%.

Oil down

Oil prices were also down on their Monday in electronic trading in Asia, the market worried about the lack of agreement in the United States on raising the debt ceiling.

In morning trading, a barrel of "light sweet crude" for August delivery lost 1.08 dollars to 98.79 dollars. That of Brent North Sea crude for September delivery lost 60 cents to 118.07 dollars.

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Rumors surrounding the release of Apple TV

Wednesday, June 29th, 2011

The scenario leading to the release of Apple TV is taking shape. As the months that preceded the presentation of the iPad, in January 2010, the indices in Asia begin to multiply. Since the beginning of the year, analysts who were on the scene returned with the assurance that Apple had already started working with his subcontractors on the project. "Apple is in the preliminary stages of designing a TV," wrote this weekend Katy Huberty, the investment bank Morgan Stanley.

The entry of Apple in the TV segment, though still in the rumors, is already the subject of scholarly speculation in financial circles.According to the analyst Gene Munster of Piper Jaffray, which published a note last week, an Apple TV would make the company an annual turnover of $ 2 billion in 2012, a total market of hundred billion dollars. For its part, Morgan Stanley expects additional revenues long-term $ 19 billion, three-quarters of revenues generated by the iPhone in 2010.

The Apple TV built into a TV

If the analysts are so sure two is that while Apple pushes prior to embarking on television. The company initially afford, thanks to profits generated in recent years by the iPhone and iPad. Perched on a cash reserve of 77 billion dollars, Apple announced earlier this year signed a two-year contract for $ 3.9 billion from a mysterious supplier.According to Gene Munster, this investment will supply 3.5-inch screen (diagonal measurement of the iPhone) to 50-inch TVs.

More importantly, analysts point out that the TV fits perfectly into the strategy of Apple. The company markets since 2007 Steve Jobs Apple TV, a box that provides access to the contents of Mac and online services on the big screen the show. First described as a "hobby", the small device has received a major update last fall. He is now based on the same basis as the iPhone, which takes the processor and operating system, IOS. Apple has sold 2 million since then.

Leaving a TV, so Apple could integrate Apple TV into a flat screen and add some new features free business cards."Videoconferencing FaceTime, the App Store App Store and iTunes and the game would find their natural place," writes Brian White Ticonderoga Securities. This TV would display the photos, music and files stored on icloud, the new storage online Apple suggests Gene Munster. As for Apple TV today, the unit would go from an iPhone or an iPad, as a remote control.

The reluctance of TV

Analysts who have studied the subject, the players already installed, such as Samsung, LG and Sony have every reason to fear the arrival of Apple. The power of its brand and the uniqueness of its design would wreak havoc. "Television is the center of living rooms around the world, and an Apple TV would likely be a huge success," anticipates Ticonderoga Securities.As for the iPhone, Apple could attempt to enter the market by the high-end model with a 2000 dollars, Piper Jaffray suggested in the summer of 2010.

In addition to competing with electronics manufacturers, Apple would also respond to Google and Microsoft, that have made television a major development. After testing mixed in television connected, Microsoft has taken a strong position in the home through the Xbox 360, and its video-on-demand and video conferencing. Google, which launched last year the platform Google TV, is it more worthwhile. But a major update, dubbed "Fishtank" is in preparation.

Despite these optimistic forecasts, Apple will have to adapt outside the United States in very specific local markets.In France, telecom operators already provide access to video on demand and Internet through their "box", very well established. For now, televisions connected televisions are more "connected", judged last week Nonce Paolini. Preparing for the arrival of Apple and Google, the owner of TF1 has also requested a "sanctuary of the signal" so that these new actors in television do not add information connected interactive emission channels without permission.

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Paris Air Show: enhanced surveillance

Sunday, June 19th, 2011

No waffling. The Paris Air Show is clearly a prime target for terrorists of all stripes. "The means are enhanced this year given the international context," admits Gilles Fournier, director of the show. Everything is made to ensure that nothing spoils the biggest party in the aviation world. The device, classified top secret, similar to that established for a G8 or the movement of a Barack Obama in Normandy. But the BBC is able to detail some components.

The government and relevant ministries including Defence and Interior, make available to the people living in 2000 to carry out missions of security, air traffic management, protection of public figures and the public. In total, no fewer than 45 state departments are present. Le Bourget hosts a control center.This PC has 80 permanent crisis covering all areas: safety, security, public order, land and air circulation. Protection services and intelligence are also at work, the DCRI provides security industry while teams of HPPD (protection service VIPs) are deployed French and foreign. At least 50 cameras monitor every corner, while ground crews are based in the crowd of visitors. Officially, no foreign intelligence service is present on the site but "it is well known that the Bourget swarms of spies from all over the planet," says one industry.

A public prosecutor is always present on the site in order to treat all topics: crime, air accident, fire or bombs … "We conduct rehearsals of all scenarios.In a crisis the PC can trigger the red plan, "said Gilles Fournier. The show requisition, order of the prefect, a representative of the Association of radio amateurs (ADRASEC). "If everything is cut and the saturated mobile is the ultimate way to help to communicate with the outside," says the executive director of the show.

70 hectares to monitor

Mobile police squads roam the 70 acre site while the Air Force ensures its protection Air Show. A special device for aviation security (DPSA) is deployed in order to "put the Bourget in a protective bubble" without disrupting the airports of Roissy and Le Bourget. A temporary exclusion zone (FTZ) flight is drawn from the south to the north of Roissy Le Bourget. This space is reserved for bounded planes and pilots accredited with flight plans, passenger names were submitted.An intruder is likely to be intercepted "by any suitable means." AWACS surveillance aircraft and helicopters for surveillance and intervention runs continuously and monitors "anything that flies." On the ground, the Air Force is on alert: the Mirage are ready to take off. Rattlesnake missiles are pre-positioned and radar detection of the Air Force record "everything that moves." All are ready to respond regardless of the scenario: small escort the aircraft flying club that has accidentally wandered into the FTZ, to land an aircraft in emergency or eliminate a target whose trajectory is clearly hostile. "

On the ground, military aircraft are under the protection and monitoring of specialized private companies but also armed them support like the American aircraft.As for civilian aircraft, they are under the protection of security companies licensed by the prefecture and the Ministry of Interior installment payday loans. Three companies subsidiary of ADP Alysia, GPS and Stand-Up is under contract with the organizers of the show. "These are companies of reference, approved in the prefecture who usually major events at the Stade de France or Cannes. They carry out checks at the entrances of the show, searches and identity checks, "said Gilles Fournier.

Similarly, vehicles entering the territory of the exhibition are all controlled and searched by teams cynotechniques explosion of Police.

The site displays a complete medical device. An advanced medical post (PMA) managed by the EMS Department is mounted. It also relies on the private firefighting resources in the Order of Malta delegating nearly 80 people throughout the show.A field hospital is also there with his two centers equipped with defibrillators, resuscitation and 8 beds. "Every year it handles about 150 cases: this is the little bobo heart attack through the heat stroke," says Gilles Fournier. The medical task force also has in its ranks doctors, nurses and firefighters from the brigade of Paris. "Around the room, barracks and hospitals were placed on standby, ready to intervene and welcome. Beds reserved in hospitals in Paris, "said Louis Le Portz.

Stringent safety rules for flight demonstrations

Another aspect to manage public safety and residents during the presentation of aircraft flights. Le Bourget is also a city of more than 13,000 residents, schools and shops. "The rules of safety are absolutely stringent," the organizers insist.The show is under the authority of an Interministerial Commission of Control, chaired by the Prime Minister. From it depends on the Organizing Committee and Coordination Committee (COC) which brings together representatives of the Ministry of Defence and Interior, the Air Force, Airport of Paris, Directorate General of Civil Aviation (DGCA), the prefecture of Seine Saint Denis. The COC approves the demonstration flights daily that drive the show from 14 hours.

The space dedicated to demonstrations is well defined this is called the volume-flying aerial displays and controlled by radar trajectory to track and record real-time trajectory and the exact position of a plane in 3D. Station to the driver that does not follow the strict rules.Prohibition is made out of "volume of flight," to fly across the room, the crowd, to make figures prohibited from encroaching on the airspace close to Roissy. A system of penalty and prohibition of flights is planned but it is very rarely used, say the organizers of the show. The drivers are all experienced professionals who have been approved by the direction of flight at Le Bourget.

From Wednesday to Saturday before the show opens, theft of repetition and validation takes place. Pilots, flight plans and the figures have to be approved by Stéphane flick, the director of flight appointed by the state. The former head of the school test pilots is still active. It is the center pilot flight test of the Directorate General for Armaments (DGA).

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Rising prices stabilized in May in France

Wednesday, June 15th, 2011

Lull on the inflation front. The price increase was limited to 0.1% in May (+2% yoy), according to figures released Wednesday by the INSEE. "Increases and decreases balance almost note INSEE. The seasonal increase in prices of fresh produce is particularly strong this year and other food products is important for the contrary, prices of energy and transport services and communications are down. "

The food products saw prices rise by 1% in a month. Growth driven by fresh products (+3.4%).Fresh fruits such as they are down 1% year over year, recorded a jump of 8.1% in May! Other foods suffer the consequences of soaring agricultural commodities: coffee, tea and cocoa rose 2.1% (+6.2% yoy), oils and fats by +1.4% (+4, 7% a year), bread and cereals by 0.6% (+1.7% yoy) and meat by +0.6% (+2.2% yoy).

"This explains why the French have a real sense of erosion of their ability to consume: the rates of many symbolic products purchased daily and can vary abruptly, which frankly is not likely to reassure them," says Alexander Law , chief economist at Xerfi.

Decline in telecoms

For the first time in eight months, energy prices have however declined by 1.3% in May after an increase of similar magnitude in April (+11.3% yoy), following the fall in prices barrel of oil. In detail, fuels recorded a more moderate decline of this set, to -1.4% over the month. It is "both for seasonal reasons and because of different tax rates, advance INSEE.

All prices for services other stores edged up 0.1% in May while the telecommunication tariffs fell by 1.1% (-2.4% yoy). Manufacturing (automotive, furniture, clothing, …) are also down (-0.1%).

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