French inflation eases less than expected in January

Tue Feb 01 2022
Eric Whitman (329 articles)
French inflation eases less than expected in January

French inflation fell less than expected in January as it eased back from a 13-year high on lower prices for manufactured goods due to winter sales, preliminary EU-harmonised data showed on Tuesday.

The INSEE statistics agency said consumer prices rose 0.1% in January, giving a 12-month inflation rate of 3.3%, down from 3.4% in December. Economists polled by Reuters had on average forecast a rate of 3.0%.

While prices for manufactured goods fell, nearly all other prices were higher and energy prices were up 19.7% over one year following increases on global oil markets.

Not using the EU-agreed methodology to calculate inflation, INSEE said its consumer price index rose slightly to 2.9% from 2.8% in December, reaching its highest level since September 2008.

The national index is more closely followed in France, while the EU-harmonised index is used outside France in order to compare inflation rates among countries using the euro.

Eric Whitman

Eric Whitman

Eric Whitman is our Senior Correspondent who has been reporting on Stock Market for last 5+ years. He handles news for UK and Europe. He is based in London