FOREX TradingCharts.com

Financial News: France Inflation Strongest Since 2008

France Inflation Strongest Since 2008

11/30/2021 - 06:32:00 (RTTNews)

(RTTNews) - France inflation accelerated to the highest level since 2008 driven by surging energy prices, the provisional estimate from the statistical office Insee showed on Tuesday. In a separate communiqué, the statistical office also confirmed the sequential growth for the third quarter.

Consumer price inflation advanced to 2.8 percent in November from 2.6 percent in October. The rate was expected to remain unchanged at 2.6 percent.

The latest inflation was the strongest since September 2008, when prices were up 3 percent.

The annual increase was driven by the acceleration in energy prices, manufactured goods prices and services cost. French inflation will continue to rise in the coming months due to energy prices, production line constraints that continue to push up producer prices, Charlotte de Montpellier, an economist at ING said.

Month-on-month, consumer prices moved up 0.4 percent, the same rate as seen in October. The rate was forecast to ease to 0.2 percent.

Inflation, based on the harmonized index of consumer prices, climbed to 3.4 percent from 3.2 percent a month ago. Economists had forecast the HICP to gain 3.2 percent again in November.

On a monthly basis, the HICP grew 0.4 percent, the same rate as in October. Final data is due on December 15.

Another report from Insee showed that producer price inflation advanced to 14.9 percent in October from 11.7 percent in September. Compared to September, producer prices gained 2.9 percent after rising 1.7 percent.

Revised data from Insee showed that the GDP growth estimate for the third quarter improved notably to 3.0 percent from +1.3 percent in the second quarter. The growth rate remained unchanged from the first estimate published back in late October.

In October, household consumption decreased unexpectedly by 0.4 percent and remained below its pre-crisis level.

This decline was mainly due to a sharp drop of 1.8 percent in consumption of manufactured goods. It was partially offset by the 0.7 percent rise in consumption of food and 1 percent increase in spending on energy.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


China GDP Growth Slows In Q4; PBoC Cuts Lending Rate (01 hr(s), 53 min(s), 34 sec(s) ago)
(RTTNews) - China's economy grew at a slower pace in the fourth quarter of 2021 amid weak prop ...Full Story»

India Trade Deficit Widens In December (45 min(s), 26 sec(s) ago)
(RTTNews) - India's overall trade deficit widened in December with imports rising fast than ex ...Full Story»

U.S. Consumer Sentiment Drops More Than Expected Due To Inflation Worries (14 min(s), 26 sec(s) ago)
(RTTNews) - Inflation concerns have contributed to a bigger than expected drop in U.S. consumer se ...Full Story»

U.S. Business Inventories Jump 1.3% In November, More Than Expected (57 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story»

U.S. Industrial Production Unexpectedly Edges Down 0.1% In December (09 min(s), 26 sec(s) ago)
(RTTNews) - Partly reflecting a sharp pullback in utilities output, the Federal Reserve released a ...Full Story»

U.S. Import Prices Unexpectedly Dip Amid Sharp Pullback In Fuel Prices (48 min(s), 26 sec(s) ago)
(RTTNews) - Import prices in the U.S. unexpectedly showed a modest decrease in the month of Decemb ...Full Story»

U.S. Retail Sales Unexpectedly Tumble Amid Higher Prices, Shortages (28 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday unexpectedly showed a steep dro ...Full Story»

U.S. Import Prices Unexpectedly Dip 0.2% In December (26 sec(s) ago)
(RTTNews) - Import prices in the U.S. unexpectedly showed a modest decrease in the month of Decemb ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

China GDP Growth Slows In Q4; PBoC Cuts Lending Rate

01/17/2022 - 00:49 AM (RTTNews)
(RTTNews) - China's economy grew at a slower pace in the fourth quarter of 2021 amid weak prop ...Full Story>>

India Trade Deficit Widens In December

01/14/2022 - 11:28 AM (RTTNews)
(RTTNews) - India's overall trade deficit widened in December with imports rising fast than ex ...Full Story>>

U.S. Consumer Sentiment Drops More Than Expected Due To Inflation Worries

01/14/2022 - 10:57 AM (RTTNews)
(RTTNews) - Inflation concerns have contributed to a bigger than expected drop in U.S. consumer se ...Full Story>>

U.S. Business Inventories Jump 1.3% In November, More Than Expected

01/14/2022 - 10:40 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story>>

U.S. Industrial Production Unexpectedly Edges Down 0.1% In December

01/14/2022 - 09:52 AM (RTTNews)
(RTTNews) - Partly reflecting a sharp pullback in utilities output, the Federal Reserve released a ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.