French Inflation Rises As Estimated

(RTTNews) - French inflation accelerated in July due to higher prices of energy and services, final data from the statistical office INSEE revealed Friday.

Consumer price inflation advanced to 2.1 percent in July from 1.8 percent in June. Likewise, inflation based on the harmonized index of consumer prices, rose to 2.4 percent from 2.0 percent in June.

Both headline consumer prices and harmonized consumer prices inflation came in line with the estimate published on July 31.

The increase in inflation reflects acceleration in service and energy prices. Services inflation moved up to 2.2 percent from 1.9 percent and the increase in energy prices rose to 12.6 percent from 11.0 percent.

At the same time, growth in food prices climbed marginally to 1.0 percent from 0.9 percent, while manufactured product prices dropped 0.7 percent.

Month-on-month, consumer prices rebounded 0.6 percent as estimated and in contrast to a 0.3 percent fall in June. The HICP also grew 0.6 percent, matching estimate, and partially offsetting the 0.3 percent drop in the previous month.