Financial News: French Inflation Unrevised At 1.3%

French Inflation Unrevised At 1.3%

12/13/2024 - 03:41:00 (RTTNews)

(RTTNews) - French consumer price inflation increased slightly as initially estimated in November, final data from the statistical office INSEE showed on Friday.

The consumer price index logged an increase of 1.3 percent annually in November, slightly up from 1.2 percent in October. The inflation rate came in line with the flash data published on November 29.

Similarly, EU-harmonized inflation rose to 1.7 percent from 1.6 percent, as estimated.

The slight increase in overall inflation was largely due to the price developments in energy, which fell at a slower pace of 0.7 percent in November versus a 2.0 in October.

Meanwhile, food inflation softened to 0.2 percent from 0.6 percent. Data showed that service prices grew at a stable pace of 2.3 percent, and the prices of manufactured products slid 0.3 percent.

Core inflation was almost stable in November and came in at 1.5 percent compared to 1.4 percent in October.

On a monthly basis, consumer prices edged down 0.1 percent, in contrast to the 0.3 percent increase in October, confirming the flash data.

The harmonized index of consumer prices dropped 0.1 percent, as initially estimated, reversing October's 0.3 percent rise.

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