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Financial News: France Inflation Unexpectedly Slows In July

France Inflation Unexpectedly Slows In July

07/31/2019 - 04:17:00 (RTTNews)

(RTTNews) - France's headline consumer prices inflation slowed in July, defying expectations for stability, while the EU measure of price growth eased less-than-expected, flash data from the statistical office INSEE showed on Wednesday.

The flash consumer price index rose 1.1 percent year-on-year following a 1.2 percent increase in June. Economists had expected the inflation rate to remain unchanged. In May, inflation was 0.9 percent.

INSEE attributed the modest easing in inflation to a slowdown in prices of energy, services and tobacco.

Meanwhile, food prices should be more dynamic than in June and those of manufactured goods should decrease barely less, the statistical office said.

On a month-on-month basis, the CPI decreased 0.2 percent in July, entirely reversing June's 0.2 percent increase. Economists had forecast a 0.3 percent drop.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, fell to 1.3 percent from 1.4 percent in June. Economists had expected the rate to slow further to 1.1 percent.

The HICP decreased 0.2 percent from the previous month, when it rose 0.3 percent. Economists were looking for a 0.3 percent fall.

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