French Inflation Rate Slows To 6-Month Low In June
Consumer prices in France are expected to increase by 0.7 percent year-on-year in June 2017, easing from a 0.8 percent gain in May, the preliminary estimate showed. It was the lowest inflation rate since December last year, as energy prices rose at a slower pace. On a monthly basis, consumer prices are expected to remain unchanged.
Year-on-year, energy prices rose by 2 percent, easing from a 5.3 percent increase in May; and cost of tobacco advanced 2.4 percent after a 2.6 percent gain in the previous month. Meanwhile, food inflation went up to 0.7 percent from 0.4 percent in the previous month, boosted by higher cost of fresh food (1.5 percent from -0.3 percent in May) and other food products (0.6 percent from 0.5 percent). Also, services prices went up by 0.9 percent, the same pace as in the prior month. In contrast, prices of manufactured products fell 0.3 percent after declining by 0.7 percent in May.
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On a monthly basis, consumer prices were flat, as a fall in energy prices and a seasonal downturn in food prices were offset by a rise in services prices due to a rebound in transport services.
The Harmonized Index of Consumer Prices (HICP) is expected to rise by 0.8 percent year-on-year; and to show no growth from the previous month.