The rise in consumer prices in France accelerated in July to reach 6.1% over one year – after 5.8% in June -, INSEE confirmed this Friday, August 12 in its final estimate, the level the highest since July 1985.
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Energy prices continued to weigh on inflation figures but less strongly than in recent months, said the statistics institute, which notes an acceleration in the prices of services, food and manufactured goods.
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28.5% jump in energy prices
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. Result: energy prices rose 28.5% year on year in July, after rising 33.1% the previous month.
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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.
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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, increased by 6.8% over one year after 6.5% in June.