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Financial News: France Inflation Slows In June

France Inflation Slows In June

07/16/2020 - 07:08:00 (RTTNews)

(RTTNews) - France's consumer price inflation eased more than estimated in June, final data from the statistical office Insee showed Thursday.

The consumer prices index rose 0.2 percent in June, after a 0.4 percent increase in May. In the initial estimate, inflation was 0.1 percent.

The drop in inflation resulted from a slowdown in service and food prices and a sharp fall in the prices of manufactured products.

Energy prices declined 9.3 percent in June and those of manufacturing products fell 1.0 percent.

Meanwhile, food prices grew 2.6 percent and services cost gained 1.1 percent. Tobacco prices increased 13.9 percent.

On a monthly basis, consumer prices rose 0.1 percent in June versus 0.1 percent fall in the initial estimate.

EU harmonized inflation, based on the harmonized index of consumer prices, rose 0.2 percent in June from 0.4 percent in May. According to the initial estiamte, HICP increased 0.1 percent.

On a month-on-month basis, the HICP rose a revised 0.1 percent in June from 0.1 percent fall in the initial estimate. In May, the HICP increased 0.2 percent.

The core inflation slowed to 0.3 percent in June from 0.6 percent in the prior month.

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