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France Inflation Slows In August

France consumer prices increased at a slower than previously estimated pace in August, final data from the statistical office Insee showed Thursday.

Consumer prices grew 1 percent year-on-year in August, slower than the 1.1 percent rise in July. According to preliminary estimate, inflation was 1.1 percent.

The slowdown was largely driven by the marked decrease in manufactured product prices.

On a monthly basis, consumer prices gained 0.5 percent, after a 0.2 percent fall in July. The rate came in line with preliminary estimate.

EU harmonized inflation held steady at 1.3 percent in August. The rate was revised up from 1.2 percent.

The harmonized index of consumer prices rebounded 0.5 percent, reversing a 0.2 percent drop in July. Monthly inflation matched flash estimate.

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