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Financial News: France Inflation Rises Marginally In May

France Inflation Rises Marginally In May

06/12/2020 - 06:32:00 (RTTNews)

(RTTNews) - France's consumer price inflation rose slightly in May, final data from the statistical office Insee showed Friday.

Inflation rose to a revised 0.4 percent in May from 0.3 percent in April. According to initial estimate published on May 29, inflation had slowed to 0.2 percent. The 0.3 percent reported in April was the lowest rate since August 2016.

The acceleration in services and tobacco prices were partly offset by drop in energy and manufactured product prices. Cost of services advanced 1.2 percent and that of tobacco by 13.9 percent.

At the same time, energy prices declined 11 percent and manufactured product prices dropped 0.7 percent.

On a monthly basis, consumer prices gained 0.1 percent in May, instead of a nil growth reported initially.

Data showed that core inflation doubled to 0.6 percent from 0.3 percent in April. Inflation, based on the harmonized index of consumer prices, or HICP, held steady at revised 0.4 percent in May. The preliminary estimate showed an annual fall of 0.2 percent in May.

This was the lowest since August 2016, when a similar rate was reported. Month-on-month, the HICP grew by revised 0.2 percent after remaining flat in April The monthly rate was revised from flat growth.

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