French July Inflation Rate Confirmed at 0.7%


French annual inflation rate came in at 0.7 percent in July 2017, unchanged from the previous month's six month low and in line with earlier estimates. Prices increased for food, energy and services while cost of manufactured products continued to decline.

Year-on-year, upward pressure came from: Food (0.7 percent from 0.8 percent in June), of which fresh food (0.4 percent from 1.5 percent) and other food (0.8 percent from 0.6 percent); tobacco (2.4 percent, the same as in June); energy (1.9 percent, the same as in June); and services (1 percent from 0.9 percent). In contrast, prices of manufactured products fell 0.4 percent, after dropping 0.3 percent in June.

Annual core inflation, which excludes public sector prices, the most volatile consumer prices and the tax measures, rose to 0.5 percent from a 0.4 percent in June.

On a monthly basis, consumer prices dropped by 0.3 percent, after showing no gain in June. 

The harmonised index of consumer prices rose 0.8 percent from the previous year and fell 0.4 month-over-month.

Insee l Rida Husna | rida@tradingeconomics.com
8/11/2017 11:09:09 AM