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French final August inflation 2.2%, in line with forecasts

Published 09/13/2024, 02:53 AM
Updated 09/13/2024, 03:11 AM
© Reuters. FILE PHOTO: Customers shop at a Carrefour hypermarket in Paris, France, January 4, 2024. REUTERS/Stephanie Lecocq/File Photo

(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.

© Reuters. FILE PHOTO: Customers shop at a Carrefour hypermarket in Paris, France, January 4, 2024. REUTERS/Stephanie Lecocq/File Photo

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.

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