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French inflation hit near 10-year high of 2.7% in September By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO. People wearing masks and protective glasses wait outside shops in Nice. This is because France’s 16 most affected departments are about to enter a third lockdown. The purpose of this lockdown, which was imposed in order to reduce the spread of coronavirus (COVID-19), contagion. It will take place on March 19, 2021. REUT

PARIS (Reuters) – French inflation rose in September slightly less than expected but still reached its highest rate in nearly a decade, preliminary data from the INSEE statistics agency showed on Thursday.

INSEE reported that its EU-harmonised consumer price index dropped 0.2% in September from August. This gave a 12.month inflation rate at 2.7%. It was 2.4% in August.

While September’s rate was at its highest level since December 2011, it was just 0.2% below the average of 2.8% predicted by 24 economists in a Reuters poll.

Inflation is rising in France, as it has been in other countries. This is due to the escalating energy costs. They rose 14.4% over one year in September, INSEE said

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