PARIS (Reuters) – Year-on-year inflation in France slowed to a slightly sharper pace than expected in June, driven by falling energy prices and slowing food price inflation, according to a first estimate. published Friday by INSEE.
The consumer price index (CPI) is up 4.5% over the twelve months to the end of June, against 5.1% at the end of May and 4.6% for the Reuters consensus.
The index harmonized according to European HICP standards, which allows comparisons with other countries in the euro zone, rose by 0.2% over one month in June and posted an increase of 5.3% over one year. , compared to an annual inflation rate of 6% in May.
Economists polled by Reuters had expected a deceleration to 5.4% over one year.
The slowdown in inflation is mainly the result of a 0.3% drop in energy prices and a lesser rise in food prices (+4.5%) which made it possible to neutralize the slight acceleration prices of manufactured products (+4.3%) “due to the later start of the summer sales this year”, indicates INSEE.
The rate of increase in the prices of services was close to that of May and tobacco prices remained stable over the month, further specifies the institute.
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(Written by Laetitia Volga, edited by Jean-Stéphane Brosse and Blandine Hénault)
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