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French inflation eases less than expected in January -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is a woman shopping for fruit and vegetables in Paris at the Bastille Mart. A lockdown has been imposed by France to stop the growth of the coronavirus infection (COVID-19), on March 19, 2020. REUTERS/Gonzalo Fuentes

PARIS, (Reuters) – French inflation declined less than forecast in January. It fell from a high of 13 years due to lower prices for manufactured products because of winter sales.

According to INSEE stats agency, consumer prices rose 0.1% by January. The 12-month rate of inflation was 3.3%. It is down from 3.4% for December. Reuters polled economic experts and predicted an inflation rate of 3.0%.

Prices for manufactured goods dropped, but almost all other prices were higher. In fact, energy prices increased 19.7% by the end of one year due to increases in global oil prices.

INSEE stated that it did not follow the EU-agreed methodology for calculating inflation and its consumer price Index rose to 2.9%, from 2.8% December. It reached its highest level since September 2008.

France follows the national index more closely than France. The EU-harmonised indicator is used in France to compare the inflation rates of different countries using the euro.

 

 

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