French final August inflation 2.2%, in line with forecasts
3:08 am Friday, September 13th, 2024
(Reuters) -Consumer prices in France rose 2.2% year-on-year in August, statistics office INSEE said on Friday, in line with its preliminary reading published late last month.
EU-harmonised year-on-year inflation in the bloc’s second-biggest economy slowed in August, compared with the July reading of +2.7%.
The slowdown is due to a sharp deceleration in energy prices – particularly electricity – as well as a fall in petroleum products prices.
Services and food prices sped up compared to last year, while those of manufactured goods and tobacco remained stable.
Analysts in a Reuters poll had on average expected a preliminary EU-harmonised inflation figure of 2.2% in August.
On a monthly basis, prices increased 0.6% in August after a 0.2% rise in July, INSEE said.
(Reporting by Stephanie Hamel; Editing by Andrew Cawthorne)
