Inflation in France slowed a little more than initially estimated in September, to 1.1% over one year, according to final data published Tuesday by the National Institute of Statistics and Economic Studies (Insee).
According to INSEE’s first estimate, inflation had slowed to 1.2% year-on-year in September, after a 1.8% increase in consumer prices in August.
“This drop in inflation is explained by the sharp decline in energy prices (-3.3% after +0.4%) and the slowdown in services prices (+2.4% after +3. 0%)»indicated INSEE in a press release.
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Decrease over one month
Over one month, consumer prices fell by 1.2% in September, in line with the initial estimate, after the 0.5% increase recorded in August.
“This drop in prices is explained on the one hand by the drop in prices of services (-2.2% after +0.5%) due to the seasonal effect of the drop in transport prices (-13 .5% after +1.4%), notably air travel (-24.8% after +0.7%), as well as accommodation services (-17.2% after +7.2%), marking the return to normal of certain prices after the summer holidays and the Olympic and Paralympic Games”explained INSEE.
The harmonized consumer price indices, which allow comparisons between European Union countries, came out a little below initial estimates. Over one year, the index increased by 1.4% in September, compared to a first estimate of 1.5% and after 2.2% in August. Over one month, the index fell by 1.3% in September, against a first estimate of 1.2% and after an increase of 0.6% in August.
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