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France's CPI up by 1.2 pct in October: INSEE

0 Comment(s)Print E-mail Xinhua, October 31, 2024
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PARIS, Oct. 31 (Xinhua) -- The French National Institute of Statistics and Economic Studies (INSEE) announced on Thursday that France's consumer price index (CPI) is expected to increase by 1.2 percent year-on-year in October, up slightly from 1.1 percent in September.

In its preliminary report, INSEE attributed this inflation stability to a slowdown in service price increases and a less significant year-on-year decline in energy prices compared to September. Energy prices are projected to decrease by 2 percent in October, compared to a 3.3 percent drop in the previous month.

The report also noted a continued decline in service prices as the economic impact of the Olympic Games fades. Prices for manufactured products, food, and tobacco are expected to remain largely in line with the previous month's rates.

France's central bank, Banque de France (BdF), has upheld its forecast for annual inflation in 2024 at 2.5 percent in its latest macroeconomic projections. Enditem

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