France's consumer prices rose at the fastest pace in more than a year in May, flash data from statistical office Insee showed on Friday.
Consumer price inflation accelerated to 1.4 percent from 1.2 percent in April. The rate came in line with economists' expectations and a similar higher rate was last reported in February 2020.
The increase was largely driven by the acceleration in energy prices to 11.8 percent from 8.8 percent. Meanwhile, the prices of manufactured goods remained stable and the decline in food prices slowed marginally to 0.2 percent. The prices of services grew 1 percent, data showed.
The harmonized inflation accelerated to 1.8 percent in May, as expected, from 1.6 percent in April.
Month-on-month, consumer prices advanced 0.3 percent, following a 0.1 percent rise in April. At the same time, the harmonized index of consumer price inflation doubled to 0.4 percent from 0.2 percent in April and was above economists' forecast of 0.3 percent.
Another report from the statistical office showed that domestic producer price inflation climbed sharply to 7.3 percent in April from 4.6 percent in March. On a monthly basis, producer prices slid 0.3 percent, reversing March's 1 percent increase.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
