June 20, 2024
France’s consumer price inflation accelerated in May on higher energy and food prices, final data from the statistical office INSEE showed on Friday.
The consumer price index climbed 2.3 percent on a yearly basis in May, faster than the 2.2 percent increase seen in April. The rate for May was revised up from 2.2 percent.
The slight increase in inflation resulted from higher prices of energy and food. Energy prices grew at a faster pace of 5.7 percent due to base effect.
Food price inflation rose to 1.3 percent from 1.2 percent. Meanwhile, services inflation softened to 2.8 percent from 3.0 percent and manufactured product prices fell again by 0.1 percent.
Core inflation eased to 1.7 percent from 1.9 percent in April.
On a monthly basis, consumer prices remained flat in May, as initially estimated, versus a 0.5 percent increase a month ago.
France’s consumer price inflation accelerated in May on higher energy and food prices, final data from the statistical office INSEE showed on Friday.
The consumer price index climbed 2.3 percent on a yearly basis in May, faster than the 2.2 percent increase seen in April. The rate for May was revised up from 2.2 percent.
The slight increase in inflation resulted from higher prices of energy and food. Energy prices grew at a faster pace of 5.7 percent due to base effect.
Food price inflation rose to 1.3 percent from 1.2 percent. Meanwhile, services inflation softened to 2.8 percent from 3.0 percent and manufactured product prices fell again by 0.1 percent.
Core inflation eased to 1.7 percent from 1.9 percent in April.
On a monthly basis, consumer prices remained flat in May, as initially estimated, versus a 0.5 percent increase a month ago.
EU-harmonized inflation rose less than initially estimated to 2.6 percent from 2.4 percent in the prior month. The flash estimate showed an annual rate of 2.7 percent for May.
Monthly, the HICP moved up 0.2 percent, which was revised up from 0.1 percent. This follows a 0.6 percent gain in April.
The statistical office said the difference between the HICP and the CPI change was explained by the fall in reimbursements in the health sector and by the annual evolution of energy prices, which weight was greater in the HICP.
Source: RTT NEWS
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
