France inflation rises slightly in June

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Inflation
Inflation

French consumer price inflation rose slightly in June driven by the rebound in manufactured goods prices, the provisional estimate from the statistical office Insee showed on Wednesday.

Consumer price inflation rose to 1.5 per cent in June from 1.4 per cent in May.

The rate was expected to remain unchanged at 1.5 per cent.

Meanwhile, harmonized inflation rose marginally to 1.9 per cent, in line with expectations, from 1.8 per cent in the previous month.

Final data is due on July 13.

Manufactured product prices advanced 0.9 per cent, reversing a 0.1 per cent drop in May.

Food prices were down 0.3 per cent, as seen in May.

Energy price inflation slowed to 10.9 per cent and services cost grew at a slower pace of 0.9 per cent.

On a monthly basis, consumer prices gained 0.2 per cent versus a 0.3 per cent rise in May.

At the same time, the harmonized index of consumer prices moved up 0.2 per cent versus 0.3 per cent in the previous month.

Another report from the statistical office Insee revealed that producer prices in domestic market grew at a faster pace of 6.6 per cent annually in May after climbing 6 per cent in the previous month, as a consequence of the low prices observed in the spring of 2020 in connection with the health crisis.

On month, producer prices gained 0.5 per cent, reversing a 0.8 per cent drop in April.

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