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- French consumer price index rose in line with forecasts in July
French consumer price index rose in line with forecasts in July
According to the report from Insee, in July 2021, the Consumer Price Index (CPI) rose by 0.1% over one month, as in June. The prices of services accelerated at +0.7% after +0.1%, as well of those of energy (+2.2% after +1.1%). The food prices rebounded (+0.1% after −0.7%). The prices of manufactured goods dropped (−1.8% after +0.5%) as well as of tobacco prices to a lesser extent (−0.2% after being stable in June). Seasonally adjusted, consumer prices rose by 0.4% in July, after +0.2% in June.
Year on year, consumer prices slowed down to 1.2%, after +1.5% in June. This decline in inflation was driven by the fall back of the prices of manufactured goods (−1.1% after +0.7%), linked to the postponed summer sales, the decrease of the prices of services (+0.6% after +0.8%) and of those of tobacco (+5.1% after +5.3%). Contrariwise, the prices of energy accelerated (+12.3% after +10.9%) and those of food rebounded (+0.9% after −0.2%).
Year on year, core inflation fell in July, down to +0.4%, after +1.1% in June. The Harmonised Index of Consumer Prices (HICP) rose by 0.1% over one month after +0.2% in the previous month; year-on-year, it increased by 1.5%, after +1.9% in June.
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