Financial News: French Inflation Eases More Than Estimated

French Inflation Eases More Than Estimated

09/13/2024 - 05:11:00 (RTTNews)

(RTTNews) - France's inflation eased more than estimated in August and reached the lowest since July 2021, revised data from the statistical office INSEE showed on Friday.

Consumer prices posted an annual increase of 1.8 percent in August, following a 2.3 percent rise in July.

The August rate was revised down from 1.9 percent and marked the weakest since July 2021.

At the same time, the EU harmonized inflation softened to 2.2 percent in August, in line with flash estimate, from 2.7 percent in the previous month.

On the other hand, core inflation increased to 1.7 percent from 1.5 percent in July. Monthly CPI inflation advanced to 0.6 percent, which was revised up from 0.5 percent and follows 0.2 percent in July. The HICP grew by an unrevised 0.6 percent after a 0.2 percent rise.

The overall fall in inflation resulted from the very sharp slowdown in growth in energy prices to 0.4 percent from 8.5 percent. Conversely, the increase in cost of services accelerated to 3.0 percent from 2.6 percent.

Food prices increased 0.5 percent, while manufactured products prices fell 0.1 percent, data showed.

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