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Financial News: France CPI Inflation At 17-month Low

France CPI Inflation At 17-month Low

03/29/2019 - 04:34:00 (RTTNews)

(RTTNews) - Flash data from France's statistical office INSEE on Friday showed that the consumer price inflation slowed to its weakest level in 17 months, due to lower prices of services, food and tobacco.

The consumer price inflation slowed to 1.1 percent in March from 1.3 percent in February. Economists had expected an inflation rate of 1.2 percent.

The latest inflation rate was the weakest since October 2017, when it was the same 1.1 percent.

The statistical office attributed the easing mainly to slowdown in the prices of services, food and tobacco. Energy price growth accelerated.

On a month-on-month basis, the consumer price index climbed 0.8 percent in March, after remaining unchanged in February. Economists had forecast monthly inflation of 0.9 percent.

The monthly inflation rate was the highest since March 2018, when it was 1 percent.

Inflation based on the EU measure of harmonized index of consumer prices, or HICP, slowed to 1.3 percent in March from 1.6 percent in February. Economists had predicted 1.4 percent inflation.

Compared to the previous month, the HICP climbed 0.9 percent after a modest 0.1 percent rise in February. Economists had forecast 1 percent rise.

INSEE is set to release the final results for March inflation on April 11.

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