France’s inflation sees slight increase in October ’24

France’s Consumer Price Index (CPI) inflation rose by 1.2 per cent year-on-year in October 2024, compared to 1.1 per cent in September, according to a provisional estimate.

This stability in inflation is attributed to a slowdown in service prices and a less pronounced year-on-year decline in energy prices compared to September. Prices of manufactured products, food, and tobacco are expected to remain stable.

On a monthly basis, consumer prices increased by 0.2 per cent in October 2024, following a 1.2 per cent decline in September.

This slight rise is driven by higher prices for energy, particularly petroleum products and gas, as well as increases in prices for manufactured products, services, and food. Tobacco prices remained stable compared to September.

The Harmonised Index of Consumer Prices (HICP) rose by 1.5 per cent year-on-year in October 2024, compare to 1.4 per cent in September. On a monthly basis, the HICP increased by 0.3 per cent, following a 1.3 per cent decline in the previous month.

Attribution: Insee

Subediting: Y.Yasser