Wages paid by the companies to households are revised upwards by €500 million in the second quarter of 2016. This revision lowers corporation's profit ratio by 0.2 point for the second quarter of 2016, and increases the households' purchasing power by 0.1 point. The overhang of the housedhold's purchasing power is revised upwards by +0.1 point for 2016. However, figures for the third quarter of 2016 are not revised.
List of modified series (xls file, 66 kB).
With the implementation of the new 2015 base for the Consumer price index (CPI) in January 2016, weights of fresh foodstuffs (fish, seafood, fruit and vegetables) and other products with highly volatile prices (as flowers and plants) have been updated. Conversely, weights of these categories of products had not been updated for the calculation of the Harmonized Indices of Consumer Prices (HICP) in the new 2015 basis. This led to different variations for fresh product prices depending on whether they were measured by the CPI or by the HICP from January to May 2016 and although there was no conceptual difference that could justify such a gap.
It was decided to harmonise the weights for the HICP and compute again this index from January 2016. The table below traces all corrections made in this way, for all relevant levels of these indices: for fresh products as well as for higher levels of aggregation (as food or recreation and culture for instance) and also for the overall index. At this level, the corrections are minor. Included between -0.01 points and +0.02 points, they are without any consequence on the rounding of the month-on-month and year-on-year rates of change of the HICP from January to May 2016.
Finally, only the Harmonized Indices of Consumer Prices (used for European comparisons) have been revised ; the Consumer Price Indices are unchanged.
Table of HICP revisions from January 2016 (xls file, 12 kB).
The technical incident has been fixed, updates planned on May 31st were released on June 2nd, at around 6 pm.
As the BDM still can not be updated, you can find definitive data for January 2016 and provisional results for February, March and April in the following file:
Producer price indices in industry - market prices (xls file, 70 kB).
Because of technical problems that occurred this morning, the BDM can not be updated until further notice. All updates planned today have not been published online. The following series are affected:
Consumer price index (provisional results): May 2016,
Producer price indices in industry: April 2016,
Construction of residential and non-residential buildings: April 2016,
Turnover indices: March 2016,
Indices of agricultural prices: April 2016.
You can find main indices in the publication Informations Rapides.
Some technical problems have disrupted the dissemination of the BT50 and BT53 Building indices for December 2015 in the Macro-economic database. The correct values to be used for December 2015 were 105.8 for BT50 and 102.7 for BT53. They were rectified on May 23rd, 2016.
An error affecting payroll employment series was detected and corrected. It concerned all sectors, for the whole time period covered.
Direct access to the series.
From the release of the indices for January 2016, on March 31, 2016, the turnover index series are produced according to a new process, which improves their quality. The series are recalculated over the period 1999-2015:
Further information concerning these changes.
You can also consult the attached:
Correspondence table between old / new series (xls zipped file, 149 kB).
The weights, as well as the Seasonal and Working-Day Adjustment models (SWDA models), used to compute the Industrial production index have been updated for the publication of the Industrial production index of January 2016, due on March 10th. The weights which were used previously were based on the provisional 2010 accounts on base 2005, whereas the new ones are based on the definitive 2010 accounts on base 2010.
Moreover, all the series are now SWD adjusted, whereas a trend was computed for some of those series before.
Since January 1st 2016, the regulated electricity selling prices have been removed for the consumers subscribing high power (more than 36 kVA). This measure is linked to the legislative frameworks adopted with the opening of the electricity market to competition since 2000.
These evolutions lead INSEE to create new Electricity producer price indices for the french market and to revamp their dissemination.
Concerning Purchaser's prices for contract escalation in the Producer price indices of French industry for the French market, the identifiers of the series stopped in December 2015, those of the next series and the correspondence table are available here (pdf file, 70 kB).
All series are available here.
When the 2015=100 and the 1998=100 series are similar, a correspondence table is given: correspondence table (in French only, xls file, 318 kB).
For other series, please see the methodology sheet (in French only, pdf file, 955 kB).
The final list of identifiers is available in this file (xls file, 635 kB).
On February 18, all consumer price indices will be disseminated in base 2015. The 1998=100 series will not be updated anymore and will be replaced by new ones.
The new classification of individual consumption by purpose (COICOP) is available in French in the Classification section.
The identifiers for monthly and annual indices, and for weightings are available in the following file (this list can be slightly modified by February 18):
New series identifiers (xls file, 602 kB).
Since January 2016, INSEE has been publishing a flash estimate at the end of every month. This index, leading indicator of inflation, is intended to be used primarily by economists. It should not be used to index-link a contract.
These 9 provisional indices are the first to be released on base 2015.
The detailed figures will be disseminated in the BDM, the 18 of February 2016. The new BDM identifiers will be available from February 10.
For further information.
The first estimate is henceforth released less than one month after the end of the quarter instead of 45 days up to now. The results will be updated for the second estimate which will be published on 26 February 2016. These shorter deadlines require additional extrapolations for the data unavailable 30 days after the end of the quarter. Slightly wider revisions than previously are likely to arise, particularly in foreign trade and inventories.
BDM identifiers are not changed.
For further information.
The year-on-year change of Q2 2015 LCI-total labour cost (indices here) is revised downward by 0.5 index points, following improvements in the measurement of the responsibility and solidarity pact effects.
Some complementary analyses of price series on refined petroleum products (CPF 19.20) have led us to revise markedly the price index series 001664757 without any impact on more aggregated series. The effect of the correction could be found on this note (pdf file, 30 kB).
Otherwise, a misuse of the index series 001653054 have led us to stop the series since January 2015 (last value December 2014). This series can be replaced by the equivalent new series 001664757 with the connecting coefficient 1.0011.
An error affecting a few series of balances of opinion of the business survey in the building craft industry from the 1st quarter of 2015 was detected and corrected. It concerned four balances of opinion: past activity, of which dwellings improvement and maintenance; past activity, of which other improvement and maintenance; expected activity, of which dwellings improvement and maintenance; expected activity, of which other improvement and maintenance.
Direct access to the series.
Until Q4-2014, the index reference year was 2008 (the average of 2008 indices was equal to 100) for these series. Upon Eurostat request, the index reference year has shifted to 2012 (the average of 2012 indices is equal to 100) since Q1-2015. This change in the reference year is not accompanied by methodological changes. If necessary, for rebuilding an index which has 2008 as reference year, quarter-to-quarter percentage variations have to be applied to the old index. An other possibility is to divide the new index, by the average of the 4 quarters of 2008 and to multiply it by 100.
Some technical problems have disrupted the dissemination of the Commercial rent index (CRI) values for the first quarter of 2015. The correct value to be used for the first quarter of 2015 is 108.32, as published in the Information rapide No 145 of June 12, 2015 and rectified in the BDM on June 18, 2015.
A mistake impacting certain levels of Producer Price Indices series since January 2014, introduced end of February 2015, was detected. This mistake concerned levels of series n° 001652621, 001652622, 001652623, 001652625, 001652626, 001652627, 001652628, 001652629, 001652631, 001652633, 001652700, 001652702, 001653469, 001653470, 001653471, 001653473, 001653474, 001653475, 001653476, 001653477, 001653478, 001653479, 001653483 and 001653485 between January 2014 and January 2015. The price developments were also revised, marginally (rounding). Producer Price Indices at purchaser's price for contract escalation were not concerned by this mistake. The Informations Rapides on January 2015 was corrected as a consequence.
The previous Informations Rapides (on 2014) were not concerned by this revision.
Producer cost indices for construction of October 2014, which have been published on 15th of January 2015, have shifted at same time to base 2010. Current Building indices (BT), Civil Engineering indices (TP) and various indices for construction have then been stopped, but, as for any rebasing, INSEE systematically proposes a “corresponding series” in front of each “stopped series”, and clarifies hereafter the rules for connexion (pdf file, 96 kB).
You can also consult the attached:
Correspondence table between old and new “BT” Building indices (xls file, 27 kB).
Correspondence tables for other construction indices are accessible in BDM news of December 2014 (the connecting coefficient of PMR index has been modified, this of IM index has been added).