France: Inflation steady at six-year high in August
On 13 September, the Statistical Institute (INSEE) confirmed earlier estimates that consumer prices rose 0.5% from a month earlier, contrasting the 0.1% month-on-month contraction observed in July. The recovery reflected higher prices for manufactured products as summer sales wrapped up. Moreover, food prices rose moderately, while tourism-related services prices slowed considerably.
Inflation was confirmed at 2.3% in August, as in July, marking a six-year high. Annual average inflation ticked up to 1.6% from 1.5% in July.
Harmonized consumer prices increased 0.5% from a month earlier (July: -0.1% month-on-month), while harmonized inflation was steady from July at a six-year high 2.6%. Finally, annual average harmonized inflation inched up to 1.7% in August from 1.6% a month earlier.