Financial News: France Inflation Rises To 6.0% On Higher Food,

France Inflation Rises To 6.0% On Higher Food, Energy Costs

02/17/2023 - 04:47:00 (RTTNews)

(RTTNews) - France's consumer price inflation increased slightly as initially estimated in January amid an acceleration in the price growth of energy and food products, the latest data from the statistical office INSEE showed on Friday.

The consumer price index climbed 6.0 percent year-over-year in January, following a 5.9 percent rise in December.That was in line with flash data published on January 31.

Energy prices surged 16.3 percent annually, which was faster than the 15.1 percent rise registered in December. Food price inflation also quickened to 13.3 percent from 12.1 percent.

Manufactured product prices rose at a slightly slower pace of 4.5 percent, and growth in service costs eased to 2.6 percent from 2.9 percent.

The monthly comparison of consumer prices showed a 0.4 percent rebound in January, after a 0.1 percent decrease in the prior month. There was no change in figures compared to the preliminary report.

France's EU harmonized inflation rose to 7.0 percent in January from 6.7 percent in the previous month, as estimated.

Over the past month, the harmonized index of consumer prices, or HICP, also gained 0.4 percent, reversing December's 0.1 percent decrease.

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