French Inflation Slows More Than Forecast

(RTTNews) - France's inflation slowed more than estimated in October due to the sharper decrease in energy prices, final data from the statistical office INSEE showed on Friday.

Consumer price inflation eased to 0.9 percent from 1.2 percent in September. The October rate was revised from 1.0 percent estimated on October 31.

This fall in inflation was largely driven by a sharp fall in energy prices, which slid 5.6 percent. Food price inflation eased to 1.3 percent due to the downturn in prices of fresh products, and services prices logged a steady growth of 2.4 percent. Month-on-month, the consumer price index edged up 0.1 percent, in line with the estimate, following September's 1.0 percent decrease.

Core inflation softened to 1.2 percent from 1.3 percent in September, data showed.

EU harmonized inflation came in at 0.8 percent, which was below the flash estimate of 0.9 percent and September's 1.1 percent. On a monthly basis, the harmonized index of consumer prices rose 0.1 percent, as estimated, after a 1.1 percent fall.