Financial News: French Inflation Unrevised At 2.3%, Lowest In 30

French Inflation Unrevised At 2.3%, Lowest In 30 Months

04/12/2024 - 03:52:00 (RTTNews)

(RTTNews) - France's consumer price inflation slowed to the lowest in two-and-a-half years, as initially estimated in March, the latest data from the statistical office INSEE showed on Friday.

The consumer price index, or CPI, posted an annual increase of 2.3 percent in March, following February's 3.0 percent rise. That was in line with the flash data published on March 29.

The rate was the weakest since September 2021, when the figure was 2.2 percent.

The annual decrease reflects the slowdown in year-on-year growth rates in food, services, tobacco, energy, and manufactured product prices, the agency said.

Food inflation slid notably to 1.7 percent from 3.6 percent. Similarly, energy prices grew 3.4 percent, much slower than the 4.3 percent increase a month ago.

Manufactured product price growth weakened to 0.1 percent from 0.4 percent. Services costs advanced 3.0 percent, following a 3.2 percent rise in February.

Month-on-month, the CPI gained only 0.2 percent after rising 0.9 percent in February, as estimated.

Data showed that harmonised inflation weakened to 2.4 percent in March from 3.2 percent in the previous month. Monthly, the HICP edged up 0.2 percent. There was no change in figures compared to the flash estimate.

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