Consumer Prices in France Rise 2.2% in August

(Reuters) – Consumer prices in France rose 2.2% year-on-year in August, according to statistics office INSEE, as reported on Friday. This figure aligns with the preliminary reading published late last month.

EU-Harmonised Inflation

EU-harmonised year-on-year inflation in France, the bloc's second-biggest economy, slowed to 2.2% in August, down from 2.7% in July.

The slowdown is attributed to a significant deceleration in energy prices, particularly electricity, as well as a decline in petroleum products prices.

Price Trends

While prices for services and food accelerated compared to the previous year, prices for manufactured goods and tobacco remained stable. Analysts in a Reuters poll had anticipated an average preliminary EU-harmonised inflation figure of 2.2% for August.

Monthly Price Changes

On a monthly basis, prices increased by 0.6% in August, following a 0.2% rise in July, INSEE said.