Retail

Consumer prices in France rise by 4.8% YoY in Aug 2023

01 Sep '23

2 min read

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France's consumer price index rose by 4.8 per cent year on year (YoY) in August this year after rising by 4.3 per cent YoY in July, according to provisional government estimates.
Consumer prices rose by 1 per cent month on month (MoM) in August after a 0.1 per cent MoM rise in July.
The rise in inflation is a result of a rebound in energy prices.

France’s consumer price index (CPI) rose by 4.8 per cent year on year (YoY) in August this year after rising by 4.3 per cent YoY in July, according to the latest provisional government estimates released recently.

This rise in inflation is a result of a rebound in energy prices. The prices of food should slow down for the fifth consecutive month, and also to a lesser extent, those of manufactured goods and services, the National Institute of Statistics and Economic Studies (INSEE) said in a release.

Consumer prices rose by 1 per cent month on month (MoM) in August after a 0.1 per cent MoM rise in July.

The prices of energy should recover due to the increase in petroleum product prices and in regulated electricity prices since August 1. Those of manufactured goods should also rebound due to the end of the summer sales, INSEE noted.

Prices of services should slow down as well due to the downturn in transport service prices and the deceleration in ‘other service’ prices.

The harmonised index of consumer prices rose by 5.7 per cent YoY in August after a 5.1 per cent YoY rise in July. It increased by 1.1 per cent MoM after being stable in July.

Fibre2Fashion News Desk (DS)

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