France: Inflation reaches almost-two-year high in September
October 3, 2016
According to preliminary figures released by the National Statistical Institute (INSEE), consumer prices in September dropped 0.2% over the previous month, contrasting August’s 0.3% increase. September’s reading reflected lower prices for tourism-related services, which more than offset higher prices for petroleum products and manufactured goods.
Inflation edged up from 0.2% in August to 0.4% in September, marking the highest reading since October 2014. Meanwhile, annual average inflation mirrored the 0.1% reading observed in August.
Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) dropped 0.2% over the previous month (August: +0.3% month-on-month). Harmonized inflation inched up from 0.4% in August to 0.5% in September. Meanwhile, annual average HICP inflation in September remained steady at August’s 0.2% reading.