French inflation stable in February

15th March 2005, Comments 0 comments

PARIS, March 15 (AFP) - French inflation was 1.6 percent in the 12 months to February, unchanged from the previous month despite higher oil and fresh food prices brought on by late winter weather, figures released Tuesday by the national statistics institute INSEE showed.

PARIS, March 15 (AFP) - French inflation was 1.6 percent in the 12 months to February, unchanged from the previous month despite higher oil and fresh food prices brought on by late winter weather, figures released Tuesday by the national statistics institute INSEE showed.

Monthly inflation was 0.5 percent in February, after a price fall of 0.5 percent in January, INSEE said.

The institute pointed to higher costs for transportation, communication and energy, but noted that a tardy end to winter sales had kept normal rises for clothing and footwear in check.

When calculated according to a harmonised European index, inflation came to 0.7 percent on the month and 1.9 percent on a 12-month basis.

Fresh food prices rose by 3.2 percent from January and by 4.5 percent from February 2004 as a result of lingering wintry weather.

Marc Touati of Natexis Banques Populaires noted the energy and fresh food factors would probably not persist now that temperatures had begun to rise and that the 12-month rate in January and February were the lowest since July 2002.

"Such a level should continue throughout 2005," he said.

© AFP

Subject: French News

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