France: Inflation hits highest level since February
July 31, 2020
Consumer prices rose a seasonally-adjusted 0.42% over the previous month in July, picking up from the 0.08% rise seen in June, according to a preliminary release by the Statistical Institute (INSEE). July's uptick was the sharpest increase in prices since December 2019 and largely reflected an increase in prices for services.
Similarly, harmonized consumer prices rose 0.45% in July, up from June’s 0.09%. Moreover, harmonized inflation rose to 0.9% in July, up from June’s 0.2%. July's figure marked the highest inflation rate since February. Meanwhile, the trend was unchanged with annual average harmonized inflation coming in at June's 1.0% in July.
Author: Hanna Andersson, Economist