France's July CPI Hits 2.1% as Energy Inflation Climbs to 12.4%
Updated
Updated · investinglive.com · Jul 31
France's July CPI Hits 2.1% as Energy Inflation Climbs to 12.4%
3 articles · Updated · investinglive.com · Jul 31
Summary
France's preliminary CPI rose 2.1% year on year in July, above the 1.8% forecast and up from 1.8% in June; monthly inflation accelerated to 0.6% from -0.3%.
Energy and services drove the pickup: energy inflation edged up to 12.4% from 11.0%, while services inflation rose to 2.3% from 1.9%, led by accommodation and communication prices.
France's preliminary HICP also quickened to 2.4%, beating the 2.1% expectation and reinforcing signs of broader July price pressure already seen in Spain and Germany.
That regional pattern adds to pressure on the ECB ahead of September, with hopes that the late-June US-Iran ceasefire would ease energy-driven inflation still not showing up in the data.