France’s inflation confirmed up by 1.1 pct yearly in September: INSEE

PARIS, Oct. 15 (Xinhua) — The French National Institute of Statistics and Economic Studies (INSEE) confirmed on Tuesday that France’s consumer price index (CPI) rose by 1.1 percent year-on-year in September, slightly down from the 1.2 percent projected in its preliminary report.
This marks the second consecutive month that the CPI remained below the 2-percent benchmark, with inflation at its lowest level since March 2021, following a revised 1.8-percent increase in August 2024.
The decline in inflation was primarily driven by a sharp drop in energy prices and a slowdown in service prices, INSEE reported. Energy prices fell by 3.3 percent in September, compared to a 0.4 percent increase in August, with significant decreases in the cost of diesel, petrol, and liquid fuel.
Electricity and gas prices also slowed, while solid fuel prices fell more quickly than in the previous month. Service prices rose by 2.4 percent in September, down from 3 percent in August, largely due to the normalization of certain tariffs following the Olympic and Paralympic Games, particularly in transport, excluding airfares.
Food prices remained stable year-on-year, with a 0.5 percent increase in September, the same as in July and August.
France’s central bank, Banque de France (BdF), maintained its forecast for annual inflation in 2024 at 2.5 percent in its latest macroeconomic projections. ■