French inflation july was confirmed at 2.1% year on year, matching the preliminary reading and rising from 1.8% in June.
The final harmonised index of consumer prices, or HICP, also held at 2.4% in July from the preliminary estimate. That compared with 2.0% in June. Meanwhile, core annual inflation rose to 1.3% in July from 1.0% a month earlier.
French Inflation July Details
Energy prices drove much of the latest increase. Energy inflation climbed to 12.6% in July after 11.0% in June. Gas prices led that move, with inflation at 17.7% in July versus 10.4% in the prior month.
Services inflation also moved higher. It rose to 2.2% in July from 1.9% in June. Food price inflation edged up as well, reaching 1.0% from 0.9%.
Core Prices Move Higher
The source said sticky services prices continued to push up core inflation. As a result, the rise in core prices added to signs of broader price pressure in July. However, the final readings did not change from the preliminary estimates.
French inflation july therefore showed firmer price growth across several parts of the basket. Notably, headline inflation, HICP, core prices, services, food, and energy all increased from June.
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Source: InvestingLive
