Financial News: France Inflation Slows To 3.0, Less Than Estimated

France Inflation Slows To 3.0, Less Than Estimated

03/15/2024 - 05:06:00 (RTTNews)

(RTTNews) - France consumer price inflation eased slightly less than initially estimated in February, the latest data from the statistical office INSEE showed on Friday.

Consumer price inflation softened marginally to 3.0 percent from 3.1 percent in the prior month. In the initial estimate, the rate of inflation was 2.9 percent.

However, this was the lowest rate since December 2021, when inflation stood at 2.8 percent.

The slight decrease in inflation reflects the slowdown in prices of food and manufactured products.

Food price inflation softened to 3.6 percent from 5.7 percent in January. The annual price growth in manufactured products moderated to 0.4 percent from 0.7 percent.

Costs for services grew at a stable rate of 3.2 percent, while energy charges increased at an accelerated pace of

On a monthly basis, the consumer price index, or CPI, rebounded 0.9 percent, in contrast to the 0.2 percent fall in January. That was just above the 0.8 percent rise seen in the flash report.

EU-harmonised inflation slowed to 3.2 percent in February from 3.4 percent in January. In the initial report, the rate of increase was 3.1 percent.

Month-on-month, the harmonized index of consumer prices advanced 0.9 percent, following a 0.2 percent drop a month ago, as estimated.

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