Financial News: French Inflation Confirmed At 2.3%

French Inflation Confirmed At 2.3%

08/14/2024 - 06:42:00 (RTTNews)

(RTTNews) - Consumer price inflation in France increased marginally, as estimated initially in July, the latest data from the statistical office INSEE showed on Wednesday.

The consumer price index climbed 2.3 percent year-over-year in July, following a 2.2 percent rise in the previous month. That was in line with the flash data published on July 31.

This slight rise in inflation was largely due to an 8.5-percent surge in energy prices amid higher gas prices. The price increase in June was 4.8 percent.

Meanwhile, food inflation eased to 0.5 percent from 0.8 percent. Costs for services also increased at a slower pace of 2.6 percent versus 2.9 percent a month ago.

On a monthly basis, consumer prices moved up 0.2 percent in July after a 0.1 percent gain in June. In the flash report, the rate of increase was 0.1 percent.

EU-harmonised inflation also rose to 2.7 percent from 2.5 percent in the prior month. The latest inflation rate was revised up from 2.6 percent. Monthly, the HICP showed an increase of 0.2 percent.

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