PARIS (Reuters) – Inflation slowed in France in July, thanks to energy prices which continued to fall and food prices to slow down, according to data published on Friday by INSEE.
The consumer price index (CPI) rose 4.3% year on year in July after 4.5% in June and was stable month on month after 0.2% in June, confirming INSEE’s initial estimates.
The consumer price index harmonized according to European standards (HICP), which allows comparison between the countries of the euro zone, was revised slightly upwards to 5.1% against 5.3% over one year in June and against an initial estimate of 5.0%. It was stable over one month after 0.2% the previous month.
“This fall in inflation is due, on the one hand, to a sharper year-on-year drop in energy prices than the previous month, and on the other hand to the slowdown in the prices of food and manufactured”, details INSEE in a press release.
Core inflation, which excludes the prices of unprocessed food products and energy, the most volatile, also slowed over one year, rising to 5.0% in July after 5.7% in June.
(Written by Corentin Chapron, edited by Jean-Stéphane Brosse)
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