PARIS (Reuters) – The pace of inflation increased slightly in France again in February due to the acceleration in food and service prices, according to an initial estimate published on Tuesday by INSEE.
Inflation calculated by French standards, or CPI (consumer price index), is up 6.2% year on year in February, after 6% in January, and above the Reuters consensus at 6.1 %.
Inflation harmonized according to European standards (HICP), which allows comparisons with other countries in the euro zone, reached 7.2% year on year in February against 7% in January.
In February alone, the CPI consumer price index increased by 0.9% after 0.4% and the HICP 1% after 0.4% the previous month.
According to INSEE, the prices of manufactured products should rebound with the end of the winter sales and those of services should accelerate with the rebound in the prices of transport services.
In addition, INSEE confirmed on Tuesday its growth estimates for the French economy in the fourth quarter of 2022, namely, an increase of 0.1% in gross domestic product (GDP) after +0.2% in the third quarter.
For the whole of 2022, GDP grew by 2.6%, compared to 6.8% in 2021, a year marked by a rebound in activity after the COVID-19 pandemic.
(Written by Kate Entringer, edited by Matthieu Protard)
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