French Inflation Eases More Than Estimated

(RTTNews) - France's consumer price inflation slowed slightly more than initially estimated in September to the lowest level in three-and-a-half years amid cheper energy costs, the latest data from the statistical office INSEE showed on Tuesday.

The consumer price index climbed 1.1 percent year-over-year in September, slower than the 1.8 percent rise in the previous month. In the flash report, the rate of inflation was 1.2 percent.

Further, this was the weakest inflation rate since March 2021, when prices had risen the same 1.1 percent.

Energy prices fell 3.3 percent annually in September, versus a 0.4 percent rise in August. This deflation was led by a 14.2 percent plunge in prices of petroleum products.

Inflation based on services moderated to 2.4 percent from 3.0 percent. Meanwhile, food inflation held steady at 0.5 percent, and prices for manufactured products dropped by 0.3 percent.

On a monthly basis, consumer prices fell 1.2 percent in September, reversing a 0.5 percent rise in August, as estimated.

EU-harmonised inflation also softened to 1.4 percent from 2.2 percent in the prior month. The latest figure was revised down from 1.5 percent. Monthly, the HICP showed a decrease of 1.2 percent, confirming the earlier estimate.