France Inflation At 14-Month High

French inflation reached a 14-month high in April, but the rate was below the initial estimate, final data from the statistical office Insee showed on Wednesday.

Consumer price inflation rose to 1.2 percent in April from 1.1 percent in March. The initial estimate was 1.3 percent. Nonetheless, this was the highest since February 2020, when the rate was 1.4 percent.

Data showed that the energy price inflation increased to 8.8 percent from 4.7 percent and those of services accelerated slightly to 1.2 percent from 1.1 percent.

The tobacco prices grew at the same rate as in the previous month, by 5.8 percent. The decrease in manufactured goods prices was maintained at 0.2 percent and the food prices fell back 0.3 percent.

On a monthly basis, the consumer price index edged up 0.1 percent versus March's 0.6 percent increase. According to flash estimate, monthly inflation was 0.2 percent.

On a yearly basis, inflation based on the harmonized index of consumer prices advanced to 1.6 percent from 1.4 percent in March. The rate was below the preliminary estimate of 1.7 percent.

The HICP gained 0.2 percent month-on-month versus a 0.7 percent increase in the previous month and preliminary rate of 0.3 percent.

The core inflation rate accelerated to 1 percent in April from 0.8 percent in March.

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