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- France's consumer price index rose in line with forecasts
France's consumer price index rose in line with forecasts
According to the report from INSEE, in July 2020, the Consumer Price Index (CPI) accelerated by 0.4% over a month, after +0.1% in the previous month. This rise was the result of higher prices for services (+0.9% year on year after +0.3%), a slight increase in tobacco prices (+0.1% after a stability in June) and a stability of manufactured products, after a 0.3% drop in the previous month. Contrariwise, the fall in food prices was higher (−0.9% after −0.8%) and energy prices slowed down to +1.0% after +1.8%.
Seasonally adjusted, consumer prices rose by 0.7% in July, after +0.1% in June.
Year on year, consumer prices accelerated to 0.8%, after +0.2% in the previous month. This rise in inflation came from a sharp year-on-year rebound in manufactured products, linked to the postponed summer sales, and a smaller fall in energy prices. Contrariwise, food prices and, to a lesser extent, services and tobacco prices, slowed down.
Year on year, core inflation rose, in July, to +1.4% after +0.3% in the previous month. The Harmonised Index of Consumer Prices (HICP) increased by 0.4% over a month, after +0.1% in the previous month; year on year, it accelerated to +0.9%, after +0.2% in the previous month.
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