French annual inflation rises to 1.7 percent

12th May 2010, Comments 0 comments

French prices rose by 0.3 percent in April compared to the previous month, bringing the annual inflation rate to 1.7 percent, the INSEE state statistics agency said Wednesday.

Last month's annual figure was 1.6 percent. Since then, rising fuel prices and seasonal fluctuations in fresh food costs have pushed the figure higher.

French government budget predictions are based on a forcecast of 1.2 percent inflation over the year, up from 0.1 percent last year, when the economy shrank dramatically amid the aftermath of the global financial crisis.

© 2010 AFP

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