France Inflation Unexpectedly Rises In January

France consumer price inflation unexpectedly increased in January driven by higher energy prices, provisional estimates from the statistical office Insee showed on Tuesday.

Consumer prices grew 2.9 percent on a yearly basis in January, after climbing 2.8 percent in the previous month. Inflation was forecast to slow to 2.4 percent.

This increase in inflation resulted from the acceleration of energy, service prices and to a lesser extent food.

Meanwhile, EU harmonized inflation slowed marginally to 3.3 percent from 3.4 percent in the prior month. The rate was above the economists' forecast of 3.0 percent.

Month-on-month, consumer prices were up 0.3 percent after a 0.2 percent rise in December. The HICP edged up 0.1 percent versus 0.2 percent rise a month ago.




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