French inflation up to 2.1 pct

12th November 2004, Comments 0 comments

PARIS, Nov 12 (AFP) - French consumer prices rose 0.3 percent in October from the previous month and 2.1 percent on an annual basis, figures released Friday by the national statistics institute INSEE showed.

PARIS, Nov 12 (AFP) - French consumer prices rose 0.3 percent in October from the previous month and 2.1 percent on an annual basis, figures released Friday by the national statistics institute INSEE showed.

"In October, the consumer price increase is mainly explained by much higher costs for petroleum products (5.0 percent on the month, 19.6 percent on the year)," INSEE said.

It noted that oil price rises were accelerating, since the 12-month figure in September was 14 percent.

The euro's high level against the dollar only partially offset record oil prices set in late October, the institute said.

Prices for fresh foods rose 0.9 percent in October from September, but were 8.9 percent lower than in October 2003.

The cost of rent, water and waste disposal increased 0.4 percent on the month and 3.1 percent on an annual basis.

Manufactured products were 0.3 percent higher on the month, but slipped 0.1 percent on the year.

When calculated according to a harmonised European index, French prices rose 0.4 percent from September, and 2.3 percent on a 12-month basis.

© AFP

Subject: French News

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