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Financial News: French Inflation Steady In December

French Inflation Steady In December

01/04/2022 - 06:15:00 (RTTNews)

(RTTNews) - France's consumer price inflation was stable in December with prices rising at a slower pace from the previous month, preliminary data from the statistical office INSEE showed Tuesday. The flash consumer price index rose 2.8 percent year-on-year, same as in the previous month. That was in line with economists' expectations.

The prices of manufactured goods and food should accelerate sharply, INSEE said. Tobacco prices were stable, as in November, and those of energy and services slowed down, the statistical office added. The flash harmonized index of consumer prices, or HICP, climbed 3.4 percent annually, same as in November. Economists had forecast a 3.5 percent increase. Compared to the previous month, the CPI rose 0.2 percent in December after a 0.4 percent gain in November. The HICP also logged the same trend, in line with expectations. The statistical office attributed the easing in monthly inflation to an expected slowing in energy price growth. The statistical office is set to release the final figures for December inflation on January 14.

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