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France consumer confidence dipped in October as inflation concerns mount -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Customers carrying shopping bags outside Paris department stores, France. February 26, 2016, 06:26 In a first assessment of EU-harmonised inflation, French consumer prices dropped 0.1% over the past 12 months according to the INSEE statistics agency.

PARIS (Reuters – French consumer confidence dropped in October compared to previous months, with market forecasts missing, as inflation worries impacted sentiment.

According to INSEE, the official statistic agency for France, its index of consumer confidence in France fell from 101 points in September to 99 in October. Reuters polled fourteen analysts who predicted a number of 101.

INSEE said that the survey found a large increase in households believing that prices would rise.

Inflation in Europe has been rising due to higher energy costs. Oil prices rose to the highest level since 2014. This was due to a shortage of oil worldwide and high demand from the United States.

Also, data from October showed that September’s inflation had been at its highest point in 13 years.

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