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France Inflation Lowest In 11 Months

France's consumer price inflation eased for a third consecutive month to its lowest level in eleven months in January, latest figures from the statistical office INSEE confirmed on Thursday.

The consumer price index rose 1.2 percent year-on-year following a 1.6 percent increase in December. That was in line with the flash estimate released on January 31.

The latest inflation rate was the lowest since March 2018. In the same month last year, inflation was 1.2 percent.

The fall in inflation was driven by a deceleration in the prices of energy, INSEE said. In contrast, services, food and tobacco prices accelerated.

The core inflation was 0.7 percent in January, same as November and December.

On a month-on-month basis, the consumer prices fell 0.4 percent in January after remaining stable in the prior month. The flash estimate was a 0.5 percent decline.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, rose 1.4 percent year-on-year after a 1.9 percent climb in December. That matched the consensus estimate.

The HICP inflation was also at an 11-month low.

Compared to the previous month, the HICP fell 0.6 percent in January following a 0.1 percent rise in December. The decline was in line with economists' expectations.

Flash estimates for both the annual and monthly changes in the HICP were thus confirmed.

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