French Inflation Rises To 1%

(RTTNews) - France's consumer price inflation increased in June, at a faster than previously estimated pace, final data from the statistical office INSEE revealed on Friday.

Consumer price inflation increased to 1.0 percent in June from 0.7 percent in May. June's inflation was revised up from 0.9 percent.

Similarly, EU harmonized inflation was revised to 0.9 percent from 0.8 percent. This was followed by May's 0.6 percent.

The overall rise in inflation was due to acceleration in annual growth in service prices to 2.4 percent from 2.1 percent, and by a less sustained fall of 6.7 percent in energy prices. Food prices grew at slightly faster pace of 1.4 percent, while prices of tobacco logged a slightly slower rate of 4 percent. On the other hand, prices of manufactured products posted a steady fall of 0.2 percent.

Month-on-month, the consumer price index climbed by revised 0.4 percent, reversing a 0.1 percent drop in May. The flash estimate showed a 0.3 percent rise in consumer prices.

The harmonized index of consumer prices gained an unrevised 0.4 percent, in contrast to the 0.2 percent fall in May.