French consumer prices rise 2.1 pct over year

19th November 2004, Comments 0 comments

PARIS, Nov 19 (AFP) - French consumer prices grew 0.3 percent in October from the September figure bringing the increase over 12 months to 2.1 percent owing mainly to higher oil prices, the INSEE statistics agency said Friday.

PARIS, Nov 19 (AFP) - French consumer prices grew 0.3 percent in October from the September figure bringing the increase over 12 months to 2.1 percent owing mainly to higher oil prices, the INSEE statistics agency said Friday.

Both figures were in line with an initial INSEE estimate and with analysts' forecasts.

The 12-month increase was unchanged from the rate registered in September.

"In October, the increase in the consumer price index is mainly explained by the sharp increase in oil products," INSEE said. Oil product prices rose 5.0 percent over one month and 19.6 percent over one year.

Underlying 'core' inflation, which excludes products with either regulated or highly-volatile prices, was unchanged in October over one month, after a0.1 percent decline in September.

Food and tobacco prices alone were unchanged over one month, as were manufactured goods. Both readings were in line with provisional estimates.

Services prices added 0.1 percent over one month, also unchanged from the initial estimate.

The harmonised index of consumer prices calculated to allow comparison with other EU members was up 0.4 percent over one month and increased 2.3 percent over one year.

© AFP

Subject: French News

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