icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
31 Oct, 2022 10:04

French consumer prices soaring

Inflation in the EU’s second largest economy accelerated to 6.2% in October, data shows
French consumer prices soaring

Consumer price inflation in France accelerated to new highs in October, data from the National Institute of Statistics and Economic Research (Insee) showed on Friday.

According to preliminary estimates, year-on-year price growth in the country hit 6.2%, exceeding July's high of 6.1%.

The rate had previously slowed in August and September after hitting the highest level since 1985 in July. Nevertheless, France’s inflation remains one of the lowest in Europe.

The agency noted that the more rapid inflation was prompted largely by the rising cost of fuel, food and raw materials, as well as increasing production costs.

Energy prices showed the sharpest growth, of almost 20%, despite government interventions. Food costs grew by 12%.

Insee predicts a further spike in prices in December, with inflation forecast to hit 6.6%. The agency is due to publish its final October inflation reading in mid-November.

For more stories on economy & finance visit RT's business section

Podcasts
0:00
23:13
0:00
25:0