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Financial News: France Inflation Slows In August

France Inflation Slows In August

08/28/2020 - 08:26:00 (RTTNews)

(RTTNews) - France's consumer price inflation eased in August, preliminary data from the statistical office Insee showed Friday.

Consumer prices rose 0.2 percent yearly in August, slower than 0.8 percent rise seen in July.

Manufactured product prices decreased 0.2 percent in August and energy prices declined 7.1 percent.

Meanwhile, food inflation slowed to 0.8 percent from 1.1 percent. Services cost remained unchanged at 0.9 percent in July.

On a month-on-month basis, consumer prices gained fell 0.1 percent in August, after a 0.4 percent rise in the preceding month.

Inflation based on the harmonized index of consumer prices, eased to 0.2 percent from 0.9 percent in July.

On a monthly basis, the HICP fell 0.1 percent after a 0.4 percent increase in the previous month.

Separate data from the statistical office showed that the producer prices fell 2.6 percent annually in July, following a 2.7 percent decline in June.

On a month-on-month basis, producer prices rose 0.4 percent in July, after a 0.7 percent increase in the previous month.

Another report from Insee showed that household consumption rose 0.5 percent in the June quarter, after a 10.3 percent increase in the previous three month ended in May.

However, energy spending grew 4.5 percent , while food consumption fell 1.0 percent.

In June, household consumption rose 0.6 percent from a year ago.

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