(Reuters) – The harmonised index of consumer prices according to European standards (HICP) rose by 2.7% year-on-year in July, notably due to an acceleration in energy prices, according to data published on Wednesday by INSEE.
This figure is 0.1 points higher than the “flash” estimate given at the end of July, which anticipated a rise of 2.6%.
Over one month, the HICP inflation, which allows comparisons with other countries in the euro zone, is in line with preliminary data with an increase of 0.2%.
Inflation calculated according to French standards is confirmed at 2.3% over one year in July (after 2.2% in June), and its monthly evolution is revised upwards by 0.1 point, to 0.2% (after 0.1% in June).
This slight acceleration, explains the Insee in a press release, results from an increase in the prices of services, particularly transport and accommodation, due to the summer period.
Energy prices have accelerated sharply, by 8.5% in July, after +4.8% in June, due to a strong rebound in gas prices (+11.4% after -10.8%).
Core inflation, which excludes the most volatile elements, slowed over a year to 1.5% in July after 1.8% in June.
(Written by Augustin Turpin and Kate Entringer)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
