Inflation in France unexpectedly accelerated in June, rising from a four-year low, as energy price deflation slowed and price pressures in the services sector picked up.
Source: Sharecast
According to the National Institute of Statistics and Economic Studies, otherwise known as INSEE, the consumer price index rose 0.9% year-on-year this month, surprising economists who expected the annual inflation rate to hold at 0.7% – its lowest since early 2021.
Service-sector inflation rose to 2.4% from 2.1%, with price growth accelerating across accommodation, health and transport in particular.
Food inflation also increased to 1.4% from 1.3%, as a fall in fresh food inflation to 1.2% from 1.5% was countered by an acceleration in other food products to 1.4% from 1.3%.
Meanwhile, energy prices fell at a 6.9% year-on-year clip in June, compared with an 8.0% drop in May.
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