France’s inflation increased in October on higher food prices, provisional estimate from the statistical office Insee showed Tuesday.
Consumer price inflation rose to 1.1 percent in October from 1 percent in September. Inflation was forecast to remain unchanged at 1 percent. Final data is due on November 15.
Insee said this third consecutive rise in annual inflation should result from an acceleration in food prices and a lesser drop in manufactured product prices.
Month-on-month, consumer prices edged up 0.1 percent, in line with expectations, after a moderate downturn in September.
Inflation, based on the harmonized index of consumer prices, increased slightly to 1.2 percent, as expected, from 1.1 percent a month ago. The rate came in line with expectations.
On a monthly basis, the HICP edged up 0.1 percent, as economists had forecast, following a 0.2 percent drop in September.
Another report from Insee showed that producer prices in domestic market gained 0.5 percent on month in September, taking the annual growth to 2.1 percent.
Overall producer prices also climbed 0.5 percent month-on-month versus August’s 0.3 percent gain. On a yearly basis, producer prices advanced 2 percent in September after rising 1.8 percent.
Source: RTT News