Paris, October 30 (QNA) - France's annual inflation rate climbed to 3.4% in October, up from 3.1% in September, reaching its highest level since January 2024, driven mainly by rising energy prices.

The National Institute of Statistics and Economic Studies (INSEE) said energy prices rose by 24.1% year-on-year, accelerating from 21.3% in September, marking the fourth consecutive month of increases.

Service-sector inflation also picked up to 2.7%, compared with 2.4% a month earlier, largely due to higher accommodation and transport costs.

Meanwhile, food price inflation eased to 1.2% from 1.4% in September, while fresh produce prices rose by 8%, down from 9.5%.

On a monthly basis, consumer prices increased by 0.4% in October, following a 0.3% decline in September, mainly reflecting higher energy costs.

The Harmonized Index of Consumer Prices (HICP), used to compare inflation across European Union countries, rose by 3.8% year-on-year, up from 3.4% in September. It also increased by 0.4% month-on-month, following a 0.3% decline in the previous month. (QNA)