Inflation: consumer price inflation accelerated to 6.1% in July year on year

Europe 1 with AFP 09:44, August 12, 2022

The rise in consumer prices in France accelerated in July to reach 6.1% over one year after 5.8% in June, INSEE confirmed on Friday in its final estimate, the highest level since July. 1985. Energy prices continued to weigh on the inflation figures but less strongly than in recent months, underlined the statistics institute which notes an acceleration in the prices of services, food, and manufactures.

Energy prices have soared in recent months as Russia's invasion of Ukraine sparked a fever in global markets.

Oil prices have, however, fallen back a little in recent weeks due in particular to fears about economic activity in China.

A 28.5% increase for energy

As a result, energy prices rose 28.5% year on year in July after rising 33.1% the previous month.

Services prices for their part increased by 3.9% in July compared to the same period of 2021, against 3.3% the previous month, and food prices by 6.8% after 5.8 % last month.

Over one month, consumer prices rose by 0.3%, after +0.7% in June.

The harmonized consumer price index, which serves as the basis for European comparisons, rose by 6.8% over one year after 6.5% in June.