France Inflation Slows In July

France consumer price inflation slowed in July driven by the downturn in manufactured goods prices and the slowdown in services price growth, provisional data from the statistical office Insee showed on Friday.

Consumer price inflation slowed to 1.2 percent in July from 1.5 percent in the previous month. But this was above economists' forecast of 1 percent.

Similarly, harmonized inflation eased to 1.6 percent from 1.9 percent in June. The expected rate was 1.4 percent.

Manufactured product prices dropped 1.1 percent, while food prices gained 0.8 percent. Services prices grew at a slower pace of 0.7 percent. Meanwhile, energy price inflation rose to 12.4 percent from 10.9 percent.

On a monthly basis, consumer prices edged up 0.1 percent, the same as in June. Prices were forecast to fall 0.1 percent.

The harmonized index of consumer prices grew 0.1 percent, slower than the 0.2 percent rise a month ago. Economists had forecast a monthly fall of 0.1 percent.

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