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LoginInflation in France Accelerates to 2.4% YoY in August
Paris, August 28 (QNA) - France's annual inflation rate accelerated to 2.4 percent in August, up from 2.1 percent in July, driven mainly by higher energy prices.
The French National Institute of Statistics and Economic Studies (INSEE) said in data released today that energy prices increased by 16.7 percent year-on-year in August, compared with 12.6 percent in July.
The institute added that food prices rose by 1.1 percent year-on-year, compared with 1 percent in July, driven by higher prices for fresh products, which increased by 5.8 percent, up from 3.8 percent the previous month.
It noted that the decline in manufactured goods prices slowed, with prices falling by 0.4 percent year-on-year, compared with a 0.7 percent decrease in July. Services inflation also slowed to 2 percent, from 2.2 percent the previous month.
On a monthly basis, inflation rose by 0.7 percent, following an increase of 0.6 percent in July. The Harmonised Index of Consumer Prices (HICP), used to compare inflation across euro-area countries, also rose to 2.7 percent year-on-year, from 2.4 percent in July. (QNA)
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