France: HICP inflation edges up to a multi-year high in April
Revised data released by the National Statistical Institute (INSEE) on 15 May showed that consumer price growth slowed from the 1.0% month-on-month increase recorded in March to a revised 0.2% rise in April (previously reported: +0.1% month-on-month). April’s increase reflected a seasonal decline in the prices of manufactured products and a soft rise in the price of services and food.
Inflation in April came in at 1.6%, unchanged from March. Annual average inflation in April likewise remained steady at the 1.1% increase recorded in March.
Harmonized consumer prices rose 1.2% month-on-month in April, matching the print observed in March. Harmonized inflation inched up from 1.7% in March to 1.8% in April, the highest reading since October 2012. Lastly, annual average HICP inflation remained steady in April at the 1.2% figure observed in March.