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France: inflation finally slowed to 1.0% in August over a year

2019-09-12T07:11:06.602Z

France: inflation finally slowed to 1.0% in August over a year



Paris (AFP)

The rise in consumer prices finally dropped to 1.0% in August over a year, because of the decline in prices of manufactured goods according to INSEE, which thus revised Thursday downward its provisional estimate of +1, 1% published end of August.

Inflation had already fallen to 1.1% in July, from 1.2% in June. In one month, however, inflation recovers to + 0.5%, against a decline of 0.2% in July, notes the National Institute of Statistics and Economic Studies.

INSEE explains this slowdown over one year by a "sharper decline" in the price of manufactured goods (-0.9%, after -0.6% in July), which "comes from a fall in prices of the clothing and shoes after a rebound the previous month ".

Prices for other manufactures fell by 0.4% year-on-year, especially for new cars, while the decline in health product prices eased.

However, this decline was "partially offset by a slightly higher growth of food prices" (3.1% after 3% in July), notes INSEE, and the rise in energy prices and services s is continued at the same pace over one year.

Underlying inflation, a leading indicator that provides insight into the trend of price developments in the coming months, declined in August to 0.7% from 0.9% in July.

Finally, the Harmonized Index of Consumer Prices (HICP), which serves as a basis for comparison with the other countries of the European Union, has increased to 1.3% over one year, continuing at the same pace as the previous month. previous year, still below the target of inflation close to 2% set by the European Central Bank.

© 2019 AFP

Source: france24

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