Consumer Prices in France Increase by 2.5%
In June, consumer prices in France increased by 2.5% on an annual basis, as announced by the National Institute of Statistics (Insee), confirming the preliminary estimate published last month, Reuters reports.
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However, this is a slower growth than the 2.6% level in May and follows a decrease in energy prices, especially petroleum products, while food prices have seen a slight increase, according to Agerpres.
Additionally, service prices have slightly accelerated, while prices of industrial goods remained stable in June compared to the same period in 2023. On a monthly basis, the inflation rate in France increased by 0.2% in June, after a 0.1% increase in May. Initially, Insee had forecasted
Inflation in Eurozone Sees Slight Decrease
In June, there was a 0.2% increase in inflation within the Eurozone. While overall inflation has eased slightly last month, concerns are rising as the rate of price growth for services remains high, causing worries among officials at the European Central Bank (ECB) that price pressures may continue to remain elevated.
Preliminary data released last week by Eurostat shows that the annual inflation rate in the Eurozone stood at 2.5% in June, down from 2.6% in May, and in line with analysts’ estimates. Inflation is now well below the peak level of 10.6% recorded in October 2022 and is approaching the ECB’s target of 2%.
