FX.co ★ France’s inflation accelerates to 1.6%

According to the statistical office Insee, inflation based on the harmonized index of consumer prices rose to 1.6%. From December 2016, prices fell by 0.3%.

The figures came in line with analysts’ forecasts and matched the flash estimate.

In December 2016, the harmonized index of consumer prices rose by 0.8% annually and edged up by 0.3% month-on-month.

Consumer prices measured according to the national standards advanced by 1.3% year-on-year in January and dropped by 0.2% on a monthly basis.

Food prices in France rose by 0.4% from the previous month and jumped by 1.3% from the same period a year ago. Energy prices rose by 4.5% and 10.3%, respectively.