France: Inflation edges down in March
April 10, 2014
Consumer prices rose 0.4% over the previous month in March, which was below both the 0.6% increase recorded in February and the 0.6% increase the market had expected. As the National Statistics Institute (INSEE) reported, the rise in the index reflected that higher prices for manufacturing goods and for food more than offset a decline in prices for energy.
Annual inflation edged down from February's 0.9% to 0.6% in March. The core inflation index, which excludes more volatile items such as oil, fruit and vegetables, registered a 0.1% increase over the previous month, which was down from the 0.5% decrease tallied in February. Annual core inflation decreased from 0.7% in February to 0.4% in March.
Annual HICP inflation (based on the harmonized index of consumer prices) decreased from February's 1.1% to 0.8% in March. Meanwhile, annual average HICP inflation was stable at February's 0.9%.
FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.2% in 2014, which is unchanged from last month's forecast. For 2015, panelists project that inflation will inch up to 1.3%.