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Financial News: French Inflation Accelerates As Estimated In June

French Inflation Accelerates As Estimated In June

07/13/2022 - 03:33:00 (RTTNews)

(RTTNews) - French consumer price inflation accelerated to a new record high in June, as initially estimated, latest data from the statistical office Insee showed on Wednesday.

EU harmonized inflation rose to 6.5 percent in June from 5.8 percent in May. That was in line with flash data published on June 30.

The latest inflation was the highest since records began in 1997.

Consumer price inflation accelerated to 5.8 percent in June from 5.2 percent a month ago, as estimated.

The recent upturn in inflation was largely driven by a 33.1 percent surge in energy prices.

Prices for food products were 5.8 percent higher in June compared to last year, and costs for services rose 3.3 percent.

Meanwhile, price growth in manufactured products eased from 3.0 percent to 2.5 percent.

On a monthly basis, the harmonized index of consumer prices, or HICP, climbed 0.9 percent in June, following a 0.8 percent rise in May. The figure for June was revised up from 0.8 percent.

Consumer prices increased at a stable rate of 0.7 percent month-on-month in June, as estimated.

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